A friend of mine dropped his iphone in a puddle and he tried to turn it on right after drying it and it wouldn't turn on. A few weeks later I dropped mine in my dog's water bowl...thought it was a goner, I quickly got it out and dried it as best as I could but did not turn it on til the following day. Fired right up!
I can't count the number of times i've dropped my iphone. Into snow banks, skidding across parking lots because i forgot it on my lap when getting out of the car. Knocked the sim card loose a couple times. That's it though.