No, doesn't sound a hinge assembly. Not with a description like: "now the screen is a thread away from being completely seperated from the body."
You'll probably need the hinge assembly, and maybe a display bezel, cables that may have been torn or severed..., etc. Good news is, sound like the LCD might be ok.
People sell the entire LCD assembly for this on ebay all the time. Runs about $200 + and takes about 2 - 4 hours for an amatuer to replace.
Or just sell it.
BTW, I DOUBT AppleCare on the phone quoted $430. Apple only does tiered pricing for portables repair. Tier 1 is around $300, Tier 2 around $500, Tier 3 around $700, and Tier 4 around $900. Tier 3 is ANYTHING that has accidental damage. And Tier 4 pricing is cracked LCD. So you're looking at $700 - $900 through Apple.