Let's say the "space-time continuum" theory holds true...
Then light would bend and twist along with a the "fabric" of "space-time". Picture a matress with a sheet on it. Then put a heavy object, say a bowling ball or shot put in the middle. Now look at how the fabric contorts around the heavy object. This would be similar to the fabric of space, but in just one plane, and there would be an infinite number of planes. And light in any of the given planes would be as warped.
To answer the second question regarding how much it would bend, we merely need to know the density of the gravitational field. For example, in theory, a black hole is created when an object so dense, that is it's gravitational field is so strong that light cannot escape. It's gravtationl "strengh" determines how far out into space it's "event horizon" protrudes. The "event horizon" is that distance from the "event", the "event" being the dense body in question, that light cannot escape, and is actually turned back toward the event.
This "event horizon" is a magical place where "space-time" is really warped. Around this "event horizon" is where you have the possibility of anything from time travel to distant space travel... at least in theory anyway.
Does this help? Or am I just blathering?
-OTS