I've read the other posts on iron cleaning technique and I'm pretty sure I left it dirty often enough that it's toast, it seems the iron coating on the tip has flaked off completely; since I've got nothing to lose I'll attack it with a file in a second and see if I can get another small job out of it. $15 lesson learned.
The real question is why the plating up near the catalyst is flaking off and the whole tip is bending. Does this indicate I'm using too much heat?