I dropped my Evo into my dog's water bowl last week, bent over and it fell right out of my shirt pocket. I snatched it out immediately, ripped the battery cover off and removed the battery. Dried it off as much as possible and let it sit for several hours. Put the battery back in, and it would boot and work, but weird things would happen, like the speaker phone coming on randomly, programs FC-ing, and notifications making no sound. So on a whim, I decided before I filed a claim, I'd wipe it completely, install a new ROM (VirusROM 2.3, very nice BTW), and see what happened.
Phone works great now. Something must've gotten scrambled in all that chaos. I was relieved, and saved $100