MtGox money completely lost? Given the recent events and today's news about MtGox filing for bankruptcy, is my money on MtGox completely lost? and what are my options now?
It would depend on what the bankruptcy laws are in Japan and if the exchange has any assets or Bitcoins left.

Then it depends on how much the legal fees are involved it finding and converting all these into cash.

You should make sure you are included in the list of creditors or you will have no chance for a recovery of anything. And if you do recover, it will usually be pennies on the dollar.