Leak in basement - should I be concerned?
As requested; It sounds like they are doing it correctly. Repairing the drainage issue first. Since they are replacing the Sheetrock (possibly with green board) rather than plain Sheetrock they are going above and beyond in my opinion. If the flooring was slightly discolored but dried and there is no mold it two will probably be fine. If it was sewage I would be concerned but rain water not so much. It sounds like they are doing a good job and there is nothing to be worried about.