So I dropped my Nexus one in a pond. After my efforts to dry it out, I got every thing working except it would no longer recognize a SIM card. I'd also unlocked the bootloader. I contacted HTC support and they accepted my phone back as non-warranty return and charged me $190 to replace the Motherboard. The phone was back in my grubby paws in 2 days. I had a similar problem with a blackberry once and I was told by RIM that there was no way they would repair a water damaged phone. Screw RIM, All Hail HTC!