@engineer,
OK, Certified Well service Co. Out of Tarborro, NC came out looked over the system above ground and said the pump was bad. In a way I was hoping to see the thing out of the ground anyway. So they hooked it up to the wench and pulled 240' of water line, safety rope, electrical cord, oh ya and the 4" 1/2 HP Weber pump out of the 6" hole in the ground. Checked the level of the water 40'. So we agreed that after 24 years it was time for a new pump. So after a quick look at the pump curve I decided a 3/4 HP was a better fit at that depth. It should only add $150 or so more than the 1/2 HP pump price. Took them a total of 2 hours and they were gone. I thought they did a great job.
Any way with all that said we have water that does not cut out anymore.
I did a quick calculation on what I think the cost of the job will be and if you think about it over a 24 year life it comes to less than a dollar a day.
Thanks for all the help, have a good one...