What do you to when the one and only windows system dies?
I guess you would get a relacement system. Problem solved.
Unless you give up your MorphOS hobby forever, you simply pick up a new Mac or other compatible MorphOS hardware and start over.
If you take the broken hardware as a sign to give up your hobby just get your drive to someone with a proper Mac or MorphOS compatible system and copy the data. Since its only music, movies and texts you won´t get any trouble, here.
And, even more important. There is always your backup, which allows you to install from scratch back to your privious system.
I currently use a simple tar/gzip script to backup my system drawer wise to a network drive. Flags are bad, but as already said. There is a script for system files and most other stuff can be fixed by a simple "protect s:#? s add".