1187 shotgun life expectancy

If you want a new gun, then take a look around and see what you like.

If you like the 1187, then by all means get it repaired. Unless it was maltreated, it sounds like there is a lot of life left in it. I have seen many 1100's with well north of 100k rounds on them. They do get sharp on the inside and will cut you if you aren't careful. Take a fine file and take the edge off.

I have well over 115,000 rounds through my 1963 Model 1100, bought new at Wilcox's in Newport News, and many of them were heavy waterfowl stuff, and I figure it's not halfway to the grave yet. I have seen Skeet guns with 300,000 rounds through them. And an 1100 and an 11-87 are the same gun except for the barrel and the extractor. The sharp edges inside the receiver are present on almost all of them. And almost all owners have cut their finger once. Use an old toothbrush to clean the inside of the receiver. The feed latch is staked in to make it easier reassembling after cleaning. it is held in place during use by the pins and the trigger group. I Superglued one as a temporary measure about 6 years ago, and now I don't remember which one it was. I will never stake one again, and I have the tool.
I would not replace anything that isn't broke. Only part I have had to replace on mine was an extractor in 1982, and Remington widened the extractor on the 11-87 to address that.
If you want a new gun, have at it, but it is not because the 11-87 is worn out.

"round count is easily in the thousands"

That's just too cute.

Seriously, try superglue as Virginian suggested.
If it doesn't hold, get it staked.

The main recoil springs should be replaced about every 5000 rounds or so - pretty typical on most gas guns - just like you change your oil in your car.

It is not wear. I have cut my finger on a brand new 11-87.

I am not a member of the spring changers guild. I have never replaced a spring on any of the 14 I have owned/own. Call it a 51 year old test in progress. But, I have replaced a slew of rusted or mangled ones on other peoples'. Yes, cleaning and lightly lubing the action spring assembly in the buttstock is highly recommended.

I practically bled to death, well not really, but I have gotten some pretty bad cuts on the inside of 1100's/1187's, and 870's over the years. That's just the effect of parts mating, it doesn't indicate they are wearing out or need replacing. However, lately, and after getting sliced real good after cutting through the cleaning cloth, I started rounding off the sharp edges to prevent further pain, misery, and loss of red bodily fluid.

GS

I had one of the 1st 1100 for years and lost in a duck hunting accident. Then I bought a used 1187 many years ago and have shot 1000's of rounds with a hitch. I will just replace parts if needed. I have not cut myself but there are some wear areas inside that could cut me. I will pass it on to my children or grandchildren and they may have to replace something. It is a very good gun.