Is my derailleur hanger too bent? I bent the (steel) derailleur hanger on my 9spd cassetted (steel) Bianchi Volpe about 1.5 yrs ago, and I just did it again, but worse. This time the derailleur got sucked into the wheel and really did a doozy with the actual hole stretched and deformed. 



Is this a lost hope or is it fine to ride, so long as I can straighten it / re-tap the whole and get it shifting?

I suppose my only options are to add a new hanger if that is even possible or make it a single-speed.

Update
To those who may experience the same thing, I was able to successfully bend this back into place and get everything shifting well, despite the hole now being deformed (the derailleur still threaded properly after bending without re-tapping the hole).
There are several suppliers of universal derailleur hangers. The intended use is to mount a modern derailleur to vintage bikes. At one time the derailleur hanger was part of the derailleur and mounted under the axle nut. Cambria Bike.com Harris Cyclery both have several models that start at $1.00. You could also try to find one of the older derailleurs like a Shimano Tourney mega range that have the hanger built onto the derailleur they can be had for under $25.