to answer one of your questions...the one on insurance claims...about the only way to get a claim paid for bike theft is to have specific insurance taken out on the bike. most homeowners/renters insurance policies have deductibles around $1000 (maybe slightly lower or higher) so that isn't a great option. you might call your/an insurance company/agent to see if they offer a floater/rider/personal articles policy to specifically cover bikes. you'll have to pay a monthly premium, but your bike will be covered.
as far as what to do with the bike, decide what you want most and then act accordingly. if you want a road bike even a little, i would say to keep it, ride the heck out of it and enjoy it. if you decide you want a bike to commute or tool around town in, find a cheap beater and ride it. much less at stake by riding a $150 bike to work than a road bike that is more expensive and you really like.
keep it.