I just saw this thread, and thought I would provide my experiences. I gave my phone a toilet bath (thank God in a clean bowl). I immediately rinsed it down with water from the sink to eliminate a bit of the "ick" factor (not all of it...). I then dumped it into a sealed container of popcorn kernals (better than rice, since there is no rice "dust"). I left it in there for a couple days, and then charged it. When I then powered it up, it just did some random things (like lighting the bottom buttons). I tossed it back into the popcorn and tried again a day or so later. It then powered up, sort of. The touch screen was barely working. More dryout time, and more and more of the phone began working. Within a week or so, it was back to full functionality.
This was maybe 4 months ago. Still working great!
Moral of this story, don't give up too soon. I think that micro sealing (or whatever that was called) that was touted on the Razr may have prevented the water from causing more harm.
