To Write or to Rewrite, That Is The Question

For the past few weeks I've been thinking about my first completed novel and ways I need to integrate a much stronger conflict into the story. I have a few ideas bouncing around in my head but overall haven't been able to bring myself to actually sit down and do it. The more I've thought about it, the harder it is to even visualize changing the story which is ridiculous because I know the book needs work. I don't have children of my own but I imagine it must be like someone coming up to you and saying "I hate to mention this but your child is ugh-ly". You'd probably bitch-slap them right? But wait a minute, what if they have a point? Okay, it's hard to imagine any child warranting that harsh a description but you're telling me maybe they don't need the dirt scrubbed off their face and a comb run through their hair? If only my book was so easy to fix. I feel in a lot ways I'd be going backwards to stop and repair it now. Tightening sentences and enhancing descriptions are one thing, all first drafts need that. Mine needs a complete face lift (hopefully not the scary Burt Reynolds kind), maybe even Botox injections and at this point I'm just not sure it's worth it. I've learned a lot since I first started writing and wonder if this new knowledge wouldn't be best served wrapped around a brand spanking new story. I've had the germ of an idea for a storyline written in my "book o'thoughts" for a while now and have finally decided to try and flesh it out and see where it goes. That's all I have, just an idea. There's a vague outline of the hero and heroine (kinda like the chalk outline of a murder victim at a crime scene which is neither here nor there but makes for great visualization) and not much else. I'm willing to see where it goes.