A/C quit; bad compressor?

[Sextondm]

Hey guys,
The E53's newest trick was for the a/c to quit working... It worked great, blew cold air like a champ and just up and quit. I figured it probably had a slow leak and the PO put a can of freon in it before I bought it. So I ran to wal mart, grabbed some freon and hooked up my gauge and it said 100PSI on the low side! So, I knew that wasn't good.
Long story short, I have a manifold set which I connected and with engine running, hvac panel set to "max" a/c (little green snowflake symbol is on), and center of compressor is obviously spinning, I'm getting about 101PSI on the low side and 112PSI on the high side. Soo... I'm thinking something in the compressor has let go?
I'm just looking to see if anyone agrees or disagrees or has a magic idea before I spend $$$ on a compressor and evac/recharge.
Other note: the aux cooling fan isn't coming on, but after reading my Bentley I see one of the inputs is from the a/c pressure switch. So, if pressures are that high, I'm assuming that's why the fan isn't coming on. Initially I thought this was the problem so I replaced the aux cooling fan. Found a replacement for about $200 on Amazon. That obviously didn't fix the problem, and I'm trying to not just shotgun anymore money/parts into this.
Thanks in advance guys!!