Yes,, I had a tripod failure near the waterfall. I watched my wonderful D700 tumble into the freezing small river/stream. Time really does sloooowwww dowwnnnnn as you watch your prized possession bounce of the rock, into the air, as you clumsily try to grab the strap,,, miss,, splash.
For a few seconds, your mind actually refuses to accept the reality...
Then I had the choice, do I dive into a freezing stream (around 32 degree water), to try to find a black camera, in dark fast moving water... Well,, of course,, so,, I stripped off my primary layers,,and dove in.. You have about a minute or so,, and there was another waterfall, just 25 feet further down,, I saw what looked like a waving black something, which turned out to be my camera strap. Without the strap, I never would have found it.
I snatched it out, and watched the water pour out of my 24-120 lens!
Turned out the camera store that I had bought the camera was nearby (the camera was only 6 months old by then),, and we rushed the camera to Nikon for emergency repair.
...where it sat for a week, for Nikon to kindly write me a note stating that they SCRAPPED the camera, and by the way, they used to dry these out... because.. well essentially they did not want to do any future warranty work on a camera that had been dropped in water.
So,, I bought another D700, and waited for them to snail mail me back my STILL soggy D700..
When the camera came back, I said,, what the Hay,, I might as well dry/clean the camera myself, and with my cleaning, and the oven trick,,
Poof,, Camera returned back on,, good as can be.. except the AF was still contaminated, which I had my local shop replace two years later (laughs, I am so old school, it took me 2 months to find out that the Auto focus was not working ... I manually focus).
I used the camera for 30K more shots, and then sold it (with full disclosure of the event). Almost a year later, the new owner is still loving the purchase (he should, got a great deal).
So, as long as it is not Salt water, absolutely, these cameras can be restored,,, JUST DON'T ASK NIKON REPAIR TO DO THE REPAIR).
The last topic is kinda sad. Just a year earlier a friend had the same thing happen to his D300, and using the same store/send back, Nikon was still repairing water damaged SLRs. Not any more.