Well a start would be to replace the LVX32 at least. However, if something else has gone bung, it could easily take out the replacement LVX32. It's unlikely that a chip like that would fail that catastrophically without external forces.

At 49c a go though it's probably worth a try at least. I'd probably buy 2 just in case.
_________________________
Christian
#40104192 120Gb (no longer in my E36 M3, won't fit the E46 M3)