When Japan Air Lines dunked a DC-8 in San Francisco Bay in the early 1970's they lifted it out - it was remarkably undamaged by the experience, and then took it apart and dunked everything in LPS-1.
LPS-1 is a water displacing lubricant and is known not to bother electronics. And it is great for scratchy volume controls. Some Ace Hardware stores sell it and I have been told that motorcycle shops often sell it because it is good to lubricate drive chains - it does so without attracting dust.
So I would spray it down with LPS-1 and then let it drip dry.
While that MAY work, if the unit were submerged in dirty water or salt water, I'd still suggest at least a thorough rinsing in distilled or deionized water to get rid of any residue before using a substance such as LPS-1. Particularly with a salt water bath, there could be residue that can remain and cause extensive corrosion over time.
Originally Posted by WB5WSV