Question 1: Very screwed. You will need to replace or rebuild the module. I highly recommend ModuleMaster, they are fast and professional.
Question 2: I've seen reports in other forums where people continued driving without the module installed. They got all sorts of errors on the dash and it was generally annoying, but they did it. I DO NOT recommend doing that, simply because you will have no traction control or other safety features while your module is not installed, but it is technically a possibility. Your actual braking power is entirely hydraulic (assisted by the brake booster, which is vacuum-powered), so they will technically still work without the control module.
And for the record, I drove for several months with a faulty module before I finally broke down and sent one out for repair. I found a spare, so I never drove without my module, and that's the route I recommend you take as well.
Thanks for your input, much appreciated.
The most annoying part is the parking brake error as it goes off when the car slows and stops. Then it gives out that ear piercing BEEEEEEP each time I start driving again (comes on at about 10 mph).
I guess it's trying to communicate with the tire which almost makes me think maybe there's a problem with the actual brake(s)... I did hear a little "crunch" sound coming from the front maybe a day or so before the ABS/ESP first popped up.
Figured maybe some dirt/debris got in there as the road home has been a construction site as of late... My brakes should be fine, they're maybe a year old and I don't drive that much (maybe 30 miles day during the week, work commute).
FWIW, the ABS module is responsive - it scans. If the brake pressure sensor is bad, that's located inside the pump, right? At least that's what I read... So, on a rebuild, do they rebuilt the pump, the module or both?
If the issue is inside the pump, can it be replaced by itself?
Just really a bad start to the new year... Damn.