Just generally speaking, water itself shouldn't kill the camera (unless we're talking nasty sludge or saltwater here). As long as there wasn't power to the system, you could just have a wet camera that needs to be dried out before powering it up.
I've seen stranger things happen. I dunked a running generator into a creek and watched it die. I took it apart and let it dry for two days and it worked.
Tell me it wasn't on when you dropped it.
And yeah......you know you've been wanting to move to solid state memory anyway..........right?
I would have to be paid the value of the camera to shoot around salt water with my dvx.
Bummer man. That sucks. But at least there are some exciting new options around now. Including everyone's used hvx's that seem about as valuable as lehman bros stock.
I shot with my DVX100 in the rain recently. I had a homemade cover but the rain was coming from all directions. In any case, the LCD screen started to go white and then stopped working altogether. I left the camera on a shelf in a storage room and two days later everything works fine!