New wheel it is. I took the old wheel to my LBS and he said it's ruined because the bend is more than 1/4" on one side.
The replacement wheel is a Weinmann LP18 rim with Shimano HB2200 hub and stainless steel spokes. The mechanic rim taped (using cloth tape), trued, mounted and inflated the new wheel for me and generally provided me with good information. The wheel and all of these services for $72 out the door. It's a decent deal for what I know. I can get a wheel online for maybe a little bit less but I won't get any of these services.
Took a ride right after I mounted the wheel and adjusted the brakes and it's very smooth.
Pictures:
P.S. Just realized I got so excited I haven't even took the price tag off, haha...