And don't let the expense of bit replacement make you sad, either. Compared to most tools, bits are among the cheaper pieces to replace, which this one would have been eventually too. Just mark it up to experience - I doubt you will EVER drop another router bit again!
In fact, as a reminder, it's slowly becoming a habit with me to do an inspection of a bit - including loose bearings (!) - whenever I setup for a router cut session. Going slow at first makes the job go a lot quicker!
Common Man Woodworking