[bhz1]

I know when my kid left his Razr phone in his pocket and I washed his pants (I refuse to check pockets). i took it apart and rinsed the circuit board off with 91% rubbing alcohol then did the let it sit for a week in a warm dry place. Worked fine, although the speaker took an additional 2 weeks to stop sounding garbled.

The theory behind the alcohol is that it acts as a catalyst to help any water evaporate. Have NOT heard anything in regard to doing this with an iPhone though.