Does my PRV need to be replaced?
Well it depends on the system most pressure reducing valves or regulators are there to prevent problems on the customer side , 60-80 psi is normal and most faucets can Handel this pressure.
I have seen 120 psi city pressure , without a pressure reducing valve or regulator there will be problems or earlier failures.
Is it time to replace OR repair your regulator
It sounds like a repair could take care of your problems for less than a replacement