It's is September 7 and if you bust your butt you can take the site you had (I assume it was 100% done), move it to another domain and get it ranked.
Still salvage some sales.....or you can stay pissed off and miss all the sales.
Google is funny about people that report others. I honestly think it is policy to follow through and make sure your complaint is real, if it is they will take that site down.
Now the second thing they do is check the person that made the compliant if they have enough information to do so. I think Google believes if you know enough to report this stuff, you know enough to do it or other things that may be against their rules, TOU and TOS. If you break any rules...you too are history.
I would never report anyone using a real email account or name. I think they investigate all complaints regardless.
Just my 2 cents...