I considered replacing mine. Coming from an occupation where I was required to solder,,,this switch is pretty compact with close tolerances to the pins through the board. I called the idea quits since all I own after retirement is general purpose solder irons, a solder sucker or two, but IMO, to the job well, I would need the bench I used in my profession. Clamps and a magnifier ring.
About the switch not staying on though, you should be ok using it as a momentary switch by holding the button down while searching. I had mine like that when I broke my switch years ago. It its usable like that though, and turning off the pointer is standard protocol after retrieval anyway.
I personally won't take the black Garrets apart again after breaking my switch. I did get it back together to the momentary status, but I was up late in the wee hours of the morning, chasing springs which flew off, etc. I accomplished the job except I didn't want the momentary action, also I drove to Garrets.
I've read where many people did replace it successfully. It is "a bear" though if something goes wrong. The switch ain't just a 2-pole switch. Several contacts.
Jm2c