Did the touch-up paint and it looks OK, wouldn't be noticed by most people unless you were looking for it. So I think that temporarily will work. However, being the typical completely anal Porsche owner I think I will have sleepless nights until it is completely fixed.
Instead of paying for a new bumper or having a body shop putty and repaint, I have a third option to consider.
Buy the front air splitters!! I kinda wanted them anyhow but now I have an excuse. Here is the link, seems like they would cover the area in question.
http://e-partssales.com/Merchant2/merchant.mvc?Screen=PROD&Store_Code=P&Product_Code=987splitt&Category_Code=987ext
I'll at least wait awhile to see if I can live with it the way it is, but seems like a reasonable option.
Thanks again for the advice, will end up saving me alot of $$$. This is why forums can be so valuable.