Managed to drop my 3G in water a couple of weeks ago, It was completly dead, I was gutted, so I bought a cheap phone to last me till the next Iphone comes out
I have had it drying out in a small sealed container, filled with those silica gel packets that come in electronic equipment boxes
plugged in the charger after a week, there was no backlight, but I could see a faint image on the screen of the battery charging, would not turn on though, and wouldnt connect to pc, so i put it back in the container for a few more days
tried a couple of days ago, still no backlight, but its now turning on, can faintly see my home screen, touchscreen is working, and can make calls
I think at least I got a phone, put back in container for a couple more days
tried this morning, WOW

backlight comes on everything seems to be working (touch wood), well chuffed, but gonna leave it in the container a few more days, to make sure its completely dry