Originally Posted by FBinNY

It depends on the exact nature of the bend, but a decent mechanic who knows what he's doing can bring back almost any wheel that still turns within the fork or frame, and many warped worse than that. Often a wheel can be made very decent, as in close enough that you can still keep brakes adjusted, but not perfect.

There are those who insist on perfect wheels, but most urban riders realize that all the road hazards you encounter, you either learn to accept imperfect wheels, or you go broke pretty fast.

Bring the wheel to the local guy, and if he says he can save it for a decent price, do it.