I did this a couple months ago with my Droid! I pulled every piece apart that I could (battery, memory card, back plate) and put it all separately in rice for about 20 hours. Put it back together and it did work, but it was a little wonky. Hasn't been the same since, to be honest. Kind of sluggish and does crazy stuff every once in a while. The touchscreen wasn't as responsive. And battery loses life crazy fast. Anyway, it DOES work fine, just not the same.
I wasn't texting and toileting, though LOL. It was in my pocket (very shallow pockets...duh me!) and when I pulled up my pants, I heard a kathunk. I've never dropped my drawers so fast and dunked my hand into the toilet before!