Is this damage to the logic board repairable? Am I being scammed?

Hi all,

I recently manage to spill what might the record for the smallest amount of water ever to damage a MacBook (I'm talking a small sip of water) onto my MacBook Pro.

The laptop would not turn on and the charger displayed a green light. I'm currently studying abroad in Australia and don't have easy access to another computer to do my school work. With not much left to do other than find someone to fix it, I looked for a repair shop. Being a bit impulsive and worrisome (I've got assignments due this week that I of course didn't back up through the cloud), I went to the closest one.

The owner of the shop opened the laptop and sent me the attached photos saying the issue was the logic board and cited liquid damage as being the culprit. From the photos it certainly seemed he was telling the truth. He claims that if he can repair it, it will only cost me $295 USD (rough conversion) including labor, but if he has to replace it, it's going to be $650 USD including labor.

My question is this: judging by these pictures, is this logic board repairable? Because that is quite pricy if it comes to needing replaced. Part of me is parinoid this guy will try to scam me and simple just say he couldn't repair it. And the other part of me wants to fix it on my own. I have until tomorrow when he works on it to pick it up free of charge. If I can fix it on my own, what would be my first steps to doing so?

Pictures:

http://i65.tinypic.com/10fcrdg.jpg

http://i63.tinypic.com/6fsbir.jpg