I've got the HP Laserjet 1020, paid $89, new directly from HP. Toner from HP costs $69... Don't know your model, but HP usually has some model on sale for around $100 (or less). Of course it's always fun to fix things yourself for a few dollars, but I'm not sure this is going to be worth the effort. Have you found out why the chip failed in the first place? Once you find the chip, and replace all the burnt parts, how sure are you that it won't fail again? Probably worth getting an extra chip or two, just in case, since it's not a common part, and should effect shipping costs.
I've had mine for a few years, only two issues. The first was the recycled toner cartridge, worked fine on paper, but useless for PCBs. Recently had a Windows Vista issue with print drivers, which was kind of strange thing to suddenly just pop up. I had the automatic updates shut down, since the computer was running stable. Was just dumb luck, that I thought to check for updates.