I also dropped my sanyo 8100 in the pool this summer. i immediately hit it with the hair blower, then left it open and it about 4 days, it worked perfectly.
Take it back to the store where your carrier is, the fone is definately worth fixing it..
I got it right out, and it now functions OK except for the charging circuit. As soon as the battery is put in, it says the battery is charging even though the charger is not attached. It does power up, but the charging signal does not go away. Charging normally has a little green, moving arrow. This arrow does not move. Anyone think there's any hope? Any suggestions? Is it worth repairing?

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