wannayz,
I'm curious what the 48t sprocket looked like. Did it show any signs of wear at all?
From what I'm reading, your chain probably was not sacked out but if there is any deforming at all on your original sprocket, then your chain has definately grown past spec. If that is the case, adding a new master link will be one way to ride right off, but it will definately wear and damage your new sprocket faster than if it were just the old chain in there. If there is any wear at all on your 48, change out the whole chain and front too.
If the old sprocket looks fine, then you are probably in good shape.