There are four ball bearings in a Gyrodec. One each in the suspension towers and one in the main platter bearing. I suspect it is most likely the one from the platter bearing that you've found, as, IIRC, there's no need to open up the suspension towers unless doing a complete strip down/rebuild. I think the suspension balls are a different size from the spindle ball.. but don't quote me on that. The platter bearing ball goes in top of the spindle. Bear in mind that the bearing is 'inverted'. If you've found the ball. the bearing has been disturbed so needs checking anyway as it may have lost its oil.
Have a read of the link above, but there are plenty of Gyro users on here who will offer advice. My one time Gyro is now an Orbe, but the principles are the same.
Is the Gyro any good? Is the Pope a Catholic? I'd say the Gyro will be as good as the arm and cartridge you use, so long as it is set up correctly.
P.S. Useful pic from Craig B above. Check that the oil 'gallery' in the spindle is clean and clear. The bearing works by pumping oil from the well at the base of the spindle,up the spiral groove in the bronze bearing outer and out via the hole on the top surface of the spindle. If you replace the oil, you'll need a couple of mm depth of oil in the 'well'.
P.P.S., I did a longish write up on complete assembly of my Orbe, which shares suspension and bearing with the Gyro. I'll try to link to it later.