Man, who would have thought a simple question would have been such a complication. I guess I was under the impression that mature, knowledgable people responded to these things. (Thank you to those who were actually helpful)
ANYWAY, I checked with a mechanic on the deal and he said if a problem were to arise, it would have been immediate as it would cause one of the pistons to misfire. The pipes, he informed me, were made to be soft in order to absorb impact easily. He also said it is a simple fix...get a dent remover (as one some one previously suggested).
And as for my F-up that everyone is so ready to critisize, I was following my friend and he was kind enough NOT to inform me that he bottomed out too. But, this my first bike and I ride 60 miles every day to work so its bound to get messed up. I love the thing, but DAMN, its just a motorcycle.
I hope some of you idots on this forum are more mature on the road than you are here.