the part number for the bypass pulley is a Dorman 34196
25 dollars from summit or other suppliers
44 dollars from Oreilly
39 dollars at auto zone they seam to stock it

Whether you go the new a/c compressor or the by-pass pulley assembly route it also looks like your serpentine belt has seen better days. I notice the GM part number on it, if it'* original to your car you might want to add a new one to your parts budget.

2004 Bonne SLE
1971 Chevelle SS

What kind of labor would I be looking at for this project? And by that I mean the cost to pay someone else... of course hourly labor rates will vary but I'm just trying to get a ballpark. I will DIY some things, but this sounds fairly time intensive, with specialty tools or A/C know-how needed (and I don't have any of that).

I'm trying to go the cheapest route for now... working A/C is great but at this point I don't need it until perhaps March-April of next year. In the Spring I could decide if it would be financially worthwhile to put any real money into a 14-year-old car with 165k miles... that I only paid $1400 for in the first place. Plus by then I will likely be replacing the car with something bigger anyway.

on line order the pulley kit 25 bucks summit or other
maybe rock auto and new belt to be safe
rock has the pulley kit to
then think how about a friend if you cant do it a 12 pack of beer can go a long way

Does the pulley kit replace the compressor completely? Or bolt on to the outside of it somehow? If the labor is the same either way (i.e. the compressor and A/C parts have to be accessed and removed anyway) then it would seem silly to NOT put another compressor/clutch in there while it'* all taken apart.

Question 1
it replaces the AC compressor
Question 2
if your worried about labor cost
and not part cost buy a rebuilt compressor assembly
then in spring buy new dryer and have it recharged
pull the ac fuse or relay until then to be safe
Question 3
depends how much you want to spend at this time
I am sure there is some one that would do it for 20 bucks
or a 12 pack
ask your friends they should know back yard mechanic
its not that hard to remove and replace the whole thing

Well you had me worried when you were talking about dropping the subframe and such. If it requires more than a wrench/ratchet set and a couple hours time, then it'* probably beyond what I will attempt myself. But of course I'm not thrilled about potentially putting $700-800 in parts/labor... for air conditioning... into a car worth around $1000.

The dropping the pass side sub frame would be if you could not access the AC compressor front.
To put the clutch puller on
This is only done so you don't have to remove the AC compressor
and loose the charge
Your car might have more room then my Regal did
its just a trick but you need a floor jack and the special AC tools to do it
I have seen AC kits on Ebay compressor and dryer for $140
and seen AC service for $20 + R134 3 cans walmart $27
so you could get off as low as $200
If money is tight get the pulley kit

$200 I could swing. Labor is what I fear, whether I'm doing it (the challenge and possibly screwing it up halfway through) or someone else is doing it (the price).

On the full size car I don't think you even need to lower the subframe. To be nice to the environment if you replace the entire AC pump or remove it to add the bypass pulley I would at least take it to a shop and have them evacuate the freon instead of releasing it into the atmosphere.