Sorry Mike, I guess I assumed you were a normal person an not a millionaire. . .
Unfortunately most people aren't in your situation where they can afford to pay for new cars cash. Nice position to be in, but most people aren't that lucky. Anyway, given that's the case I guess you need to consider the value. I don't know what you paid for it but the question then becomes is the difference between the price paid and the payout you'll be given by the ins. co. worth the use you got out of it for the time you had it?
If so, I'd take the money and run - and go buy a cheapo beater until the economy calms down. Cash in one's pocket right now is a good thing and if someone was going to hand me a wad of it right now given how things are going downhill, I'd be a bit hard-pressed not to take it. Of course if you have another car to use, you could just stick the entire wad in your pocket and walk away. That's what I'd do anyway.
If not, or if you're hell-bent on keeping THAT particular car, you can try and bargain with them to get it fixed. You're in a nice position that your carrying costs on the car are very low (insurance, fuel, maintenance only - no payment). Basically the same scenario as having them total it out, pocketing some cash and getting a beater - only you don't get the cash and you do get a newer and arguably nicer car (depending on the quality of repairs).
Best of luck to you whatever you decide.