raised floor insert for shower to bypass leak?

I just found out the shower in my 50-year-old house has been leaking for a while; the shower is directly over an overhang so I found out about the leak just recently when I saw water dripping from that overhang outside. So the plywood from the subfloor down to that overhang is rotted. The beams under the bathroom look ok, a little black where they meet the plywood. The floor in the bathroom seems solid structurally, no shifting tiles or cracks.
Option #1 for repair is to rip it all out and replace the bathroom, new subfloor, probably choose a fiberglass shower instead of tile to avoid having to caulk the seam of the tile to shower pan.
I was thinking maybe option #2 would be just to leave everything in place and build an insert that would fit snugly in the existing shower, caulked to the shower walls. This insert would have a slightly sloped floor down to a central drain funnel, and the bottom of this funnel would hang inside the existing drainpipe. This way, water would never touch the shower pan or the joint between drainpipe and shower pan. (I suspected the leak was at this joint between drainpipe and shower pan, and sealed it with putty epoxy from Home Depot. When I watch from below when the water's running in the shower, the outside of the drainpipe was dripping before my fix and seems dry now, but there's still water dripping from somewhere else.) This insert would just be a wood platform on stilts sitting on the shower floor, with this drain funnel in the middle, and with vinyl laminate or something attached to the wood platform to protect this wood from the water.
Any comments on option #2, or suggestions on other options? I'd really rather not rip out the bathroom. Thanks.
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snipped-for-privacy@hotmail.com wrote:

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You need to fix all of the leaks before you do anything. If the leak is coming from the supply pipes, your proposed 'repair' would do nothing.
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