Dead graphics card. Checkerboard pattern?

So my graphics card seems to be dead. The screen works on and off, but when it does not work it shows a progressively changing checkerboard pattern. This occurs on the Laptop display, with an external monitor, through S-Video, and with "screen sharing".

What are my options?

Replace the Mother board?

Part it out and chuck the Mother Board?

Replace the graphics card? (not sure I can do that)

Cast a voodoo spell that fixes everything?

You ideas would be very much appreciated!

Zac