If there are unspent funds for any addresses, you can transfer those keys to a new wallet, rescan, and the funds will show and can be spent.   You don't need pywallet for doing this, standard bitcoind has everything you need.

Step 1.) Make sure you have a good backup of your existing wallet.

Step 2.) Extract keys from existing wallet.
 - http://bitcoin.stackexchange.com/a/3532/153  (first set of instructions)

Step 3.) Close the client, move existing wallet out of the way, and relaunch which creates a new, empt wallet.

Step 4.) Import keys
 - http://bitcoin.stackexchange.com/a/3532/153  (second set of instructions)

I don't remember if you need to start the client with -rescan after.  It doesn't hurt if you do.