Oh man, that sucks bigtime.

I drove my Vette today too, but thank god there were just big puddles and not like what you hit. I just got home. Flood damage is iffy when it comes to totalling it. If they give you the chance to buy a new one I would do it. You never know exactly what fried and what didn't, then you throw in the motor hydrolocking and numbers skyrocket. I hope everything gets worked out quickly.
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1999 MBM T/A - the new ride

2004 CE Corvette - 1.410 - 10.246 @ 133.39
2003 Silverado - Lifted 6 on 35s
2000 T/A WS6 - 11.190 @ 119.79...SOLD