I spilled pepsi on mine once. Carrying the soda in a wax cup, 44 oz version and I held it near the rim of the cup. In the other hand I had an opened gym bag. The top of the cup flexed and before I could do anything about it, the Razr at the bottom of the bag had been splashed and rested in a small puddle of pepsi and naturally it was turned on and ready for phone calls. I doubt anything got inside, but I turned it off immediately, wiped it down and opened the battery area and cleaned that area out. I also lubricated the hinge. It's been fine for just under a year. Soda I guess, is the worst, the sugar, the acids, but I was fortunate.
BTW, I also have a protective shell on it too, but that seemed to only trap the fluid in between the shell and phone case ? But it may have kept even more fluid from seeping in directly by soaking it without a protective cover ?