[mdoyle]

Just about every compressor with any miles will show signs of leakage around the front seal, that doesn't mean it's totally dead.

One thing to keep in mind whenever you change out a serpentine belt is to replace the tensioner at the same time. Over time the old belt will change in size as it wears and the old tensioner will develop a set (sticking) point.

Now if you put a new belt on an old tensioner, the tensioner load position changes and it often won't fully tension the new belt resulting in slippage under load, belt squeal, and quick failure.

The first thing I'd do is replace the tensioner and give it another try as long as the new belt isn't damaged. Then if your A/C still doesn't work, go with the repair of that system.