I decided to wait 46 hrs before I tried to plug the phone in. Last night, I could see some moisture in the camera lens of the phone. So I know that there was moisture that got in it. I stopped at Home Depot and picked up a Damp Rid sachet and put that in the ziplock bag with it. I was hoping it would pull the moisture out a little better than the rice.
I plugged it in at work this afternoon. The apple logo came on. Then continued to reset itself for the next 15 minutes. NOT GOOD! Finally, it acted like it was going to charge and went to the main screen. It was moving very slow and the apps were taking forever to load. It finally went to the screen telling me to sync it with itunes. But since I was at work, I couldn't really do anything about it. So when I packed up for the day and unplugged it, I realized it wasn't holding the charge and if it wasn't plugged in, it wasn't doing anything.
I went home and plugged it into the wall and it still wouldn't hold a charge. It wouldn't do anything once plugged into the computer at all.
I guess we'll see what happens tomorrow when I take it to the Apple Store to see what my options are. :(