It looks like in the end you got your bags back.
Airlines lose checked bags all the time. I don't think you are due any compensation since they did find the bags and they were delivered to you.
If you didn't get them back, then you are due some compensation. I think the rule in the contract of carriage limits their liability:
Liability for the loss of, damage to or delay in delivery of a Passenger’s personal property, including Baggage, when such personal property or Baggage has been checked (unless a higher value is declared in advance and additional charges are paid and personal property is not otherwise excludable), is limited to USD 2,500 per Ticketed Passenger. Passenger will be responsible for documenting and proving the actual value of the loss. CO shall not be liable for any consequential damages arising from the loss of, damage to or delay in delivery of Baggage.
A copy of the contract of carriage can be downloaded from here:
http://www.continental.com/travel/po...ct/default.asp