Personally, when it's time to refret any of my older guitars I'm going stainless steel. It's about $100- $150 more, but sooooo worth it. I'm never going back.
Prices vary depending on the area, the specific shop and of course the fretwire material. Around here (Orlando, FL @ Guitar Factory) a full refret w/ nickel will be about $250, stainless around $400. A friend of mine had his Jem refretted w/ stainless for $350, but his wife is a great negotiator.
You can also see if they only need to replace the worn frets. If all the wear is on the first 5 frets and the others are fine, then maybe you can just get those replaced for a lot less.
If you really love the guitar, I'd get a refret. I'd also see if a level & crown will do the job - I got a strat done earlier this year for about $80 and it plays great now. Much cheaper than a full refret, and sometimes that's all you need. I had another one my strats refretted a for between $200 and $250, I forget but it was worth it. I thought about getting a new neck for that, too, but the refret was cheaper and I liked the neck a lot.
I would hate to have a refret job for the same price as a used American Standard.
Sure, but then you have one (somewhat) unplayable guitar and one you may or may not like that much. Is that what you really want? I'm not judging one way or another, there are pros and cons. Personally I would rather have fewer guitars that play and sound amazing than a closet full of guitars I rarely use because one thing or another isn't quite right.
Good luck!