I'm glad to hear that the kid, and especially you are alright. I have been witness to many crashes in my local bike group (mostly dog related) and it always sucks for both the biker and the other participant in the crash.
The kid did the right thing by apologizing, however I can;t seem to think that <b>you</b> got the short end of the stick, when it seems to be more of the kids fault than yours. It certaintly isn't right for you to be stuck with a busted bike with no reparations, however I agree with your wife and just forget about the court. But if I were in your shoes, I would atleast let the Father have a piece of my mind.
Good luck with your new bike, and ride safely!