This damage is the result of a **** poor job of re-roofing a house. The
roof has been repaired and we have verified there is no more leakage.
Now to repair the damage. The damage is at a horizontal drywall joint.
I have verified from the attic that there is no mold/mildew/etc. Just
discolored drywall. We live in a very dry climate, thank goodness.

Do you all have any suggestions for repairing this area? It's about 16"
of exposed joint. I have removed all of the loosened texture and joint
compound.

Should I try to patch with drywall compound and tape, or is there an
easier(and as effective) method?

Thanks for any help.

Pictures:
http://www.tekn0lust.com/images/IMG01.JPG
http://www.tekn0lust.com/images/IMG02.JPG
http://www.tekn0lust.com/images/IMG03.JPG

Thanks,
tM