Sorry, but I have to disagree with the "no compensation" folks. In my opinion some sort of "customer service / satisfaction" compensation is in order here. Getting there alive should not be the only contract here (though it is the number priority!)
When the airlines takes your money it issues an implicit contract to carry you and your belongings at a stated time. When they fail to deliver the stated goods through fault of their own, then compensation is due.
Given the fare, some amount in the form of a voucher should be in order, say 25% of the ticket price paid.