The effects of detonation on bottom end (CR500)?

Hey, I recently purchased a bike (cr 500) in awesome shape except for the fact that the engine had no compression...at first we just thought that it was a stuck ring. Well, after getting the top end off we realized that detonation had occured...a new piston kit is on the way, and the cylinder will be rebored to be a 520. My question is just how terrible is detonation in reference to the bottom end? Does the fact that detonation occured mean that my bike is totally roached out and not worthy of repair, or what? I guess there were some "minor" metal shavings down in the lower end....aside from that, all seems fine...the rod is still in great shape and all that...Any thoughts? Just because detonation occurs doesnt mean your bike is trashed, does it?

thanks,