Water Logged Engine

Ok I was driving home and a street was mad flooded like 2 feet deep. I hit that sh*t hard, the entire street was flooded so from far away it appeared all flat. Stupid late night driving. So I'm treading thru it and my check engine light comes on. So I finally get it home, open the hood and steam comes out, and the smell of burning circuits. Obviously I'm thinking GREAT! It had a bad response at low rpms, and the exhuast was unconstant.

Since it was late at night I had no choice but to park it and check it in the morning. I was just hoping no water got inside my air filter. Well guess what, there was definently water in my filter. So after drying the box out, and buying a new filter.

So next was drying the distributor out with a blow dryer, the thing was pretty wet. So that is dry, and new filter, I checked the oil to make sure its not screwed. So next problem...

The car runs fine, actually even better then before *I guess the comp is reallllly goofy now*.
The engine light still won't go off. Any ideas? And how much is it gonna cost me? I think it just messed up my computer readings.