Better idea then replacing it? It's debatable, do you have a service manual for your bike yet? In the appendix it shows the cable and wiring routing and position for everything throughout the bike.
If you fix this yourself, the benefits are that you are going to know your electrical system very well, along with the rest of the bike. If you read the manual and look online, you'll pretty much instantly know what's wrong with it next time something happens. However, to do a good job of fixing that harness, you'll need to spend some serious time on it, and there's still the possibility of it having a problem or two shortly down the line.
If you just buy a new harness, it's basically plug and play, almost all of the connectors only fit the exact connector they need to. You'll be out a decent chunk of money that you could have spent on upgrades or tires or whatever, but, next time something breaks, you can pretty much know that the harness is fine, and just move on to sensors and other things moving down the list of possible issues.
Personally, I'd probably repair it myself, then again, after this Saturday I'm going to have 5 weeks of literally nothing to do.
edit: heres a link for your manual in case you dont have one already, http://www.mediafire.com/?wg8oapaw01b8tax