Is there a draft hidden in your closet?

There is in mine! It's been there for over five years and I just found it again, covered with dust, under a pile of old clothes. Maybe I found it because I'm working on this blog trying to help you write that best-sellers you said you were going to write. (Admit it!). So now this flawed novel is staring at me, challenging me, telling me to take my own medicine. Can I really untangle the mess I made of the plot? Should I just throw it out and work on my new book? When do you dig in your heels and do the hard work of revision and when do you cut your losses and move on? What do you think?