Well, bad news fellas. I brought it to a shop and faced the crappy reality of owning a boat. My prop shaft is in fact bent, as the service tech showed me the wobble as he spun the prop. His original intention was to replace the entire lower unit, but first asked if I had insurance on the boat. I told him I did not, as I didn't think it was necessary, given that this isn't a $30,000+ bass boat I bought new of the show room floor. He was understanding and said I may want to consider it going forward for incidents like this. He said it would cost a pretty penny to replace the lower unit so if I wasn't going through insurance, we wouldn't go the route. His intentions are now to pull and inspect the prop shaft and send it out to be straightened. He said he will have to re-seal everything and obviously get a new prop back on it. I was quoted roughly in the $1,800-$2,000 range. I'm still a little sick over it, but what's a guy to do, it has to be fixed.
The worst part about it is that he said the prop damage was minor and could have been fixed with a refurb. Unfortunately, running the motor like I did afterwards (purely due to inexperience and lack of knowledge) is what most likely caused the shaft bend. Is it normal to have the urge to put the boat on the front lawn with a FREE sign??