You're saying than when you squeeze the switch nothing happens? Any noises like the saw is trying to start? Does the switch sound/feel like it's working? What happens when you turn the blade manually? Obviously make sure the saw is unplugged when you do this.

I'm not sure how much time I'd spend on a 12 year old saw. I'm assuming it wasn't too expensive when you bought it?

Hitachi used to make a nice 10" saw for just under $200. I haven't looked at it's price in while.

The small hitachi is a nice saw, if you throw away the blade that comes with it and add a good $50 blade to the cost.
To the OP: is the blade-lock lever/button stick in? It's the device used to lock the shaft while torquing on it to change blades. If it's stuck it effectively jams the motor. Otherwise, the bearings may be seized. Another thought, if it had a blade brake, that section of the switch electronics may be shorted out, so the brake windings are getting current all the time when the switch is closed (in addition to the main motor windings). That would mean replacing the switch.
Casey