Reg,
I deal with water damaged homes on a fairly regular basis. It's good that you got the carpet out and dried things up BUT there is moisture trapped in the walls and insulation and that could result in mold. I don't want to alarm you, but there is more to this than meets the eye. I recently managed a repair/remediation project on a two week old home where a fitting burst in a second-floor bathroom....similar to your situation. The homeowner came home and said it was raining in the dining room. The water travelled over a large area in the walls and even flooded the basement. We ripped out all the sheetrock, hardwood floors, insulation, and cabinets (remember, this was a new house!) and had a remediation company come in with forced hot air driers to 'bake' the gutted section of the house to dry the moisture before mold set in. We also cleaned and disinfected the heating system ductwork to make sure no mold would grow due to the combination of moisture and dust. You may want to consider having a local industrial hygienist or remediation contractor take some moisture readings and/or samples to make sure everything is really dry and mold-free. I know it can be expensive, but the health of your family (and also the resale value of the home) is at stake.