If you drop your cell phone in water, it is often possible to salvage it. Time is of the essence, however, so the first thing to do is to get your cell phone out of the water as soon as possible. Leaving a cell phone in water for even a few seconds might damage it beyond repair, but there are a few things that you can try and that sometimes work.
This phone just came out on pre-order for $200. Any opinions? Other than paying the early adopter tax, seems like a pretty well-spec'd phone for the price to me. If the camera had OIS then I'd probably pick one up just to play with.