But even with 12 round bcrypt hashing, you should be able to fairly cheaply attack a list of 2,000 bcrypted passwords with a million-entry database of leaked e-mail/password combos in a GPU-month.

Probably easier to force a password reset on everyone and then do the checking on password change, although you need to be careful there not to be sending the password.

EDIT: uhm, wait, so if you've got the e-mail address in the dump then there's only one user for that, so just grab their salt and hash the password and check it. So that million entry database should be checkable in a bit over half an hour...