So get specific here....your Mighty fell in a lake and you immediately scooped it out? Your arm went in the water up to your elbow? Or did you dive in head first? Was it on at the time? Inquiring minds want to know...
Well, interesting story, I was sitting in a chair by the lakeshore where the water nearby was shallow, up north at a camp site, and the mighty was in my sweatshirt pocket (careless mistake). Suddenly it fell out into water that's 6 inches deep, to the bottom. It was underwater for about 1 second before I grabbed it out, I still remember seeing it laying there underwater, it looked like a watery grave for my dear friend.
One thing that might of helped save it is that I had the mighty inside a thin plastic bag (the one it comes wrapped in when purchased). Now that's not a sealed bag, so this plastic its in is completely open at the top. But that must of helped delay its submerging in water because all the water has to enter from the top of this plastic bag, rather than an instant submerging without it. A fraction of a second of difference probably, that and my quick reaction helped minimize water damage.
It was completely soaked anyhow. The display was temporarily warped, the vibration also temporarily didn't work, and the mighty did a weird grumbling noise for 10 minutes, while off. I held it over a camp fire to dry it off.
But to my amazement, it never stopped functioning, and the vibration and display came back to normal an hour later. That incident was three months after purchase, now I'm nearly at 2 years with a still perfectly functioning mighty.