Water damaged, does not turn on.

wayne, first thing I would do is to disassemble the iPod right down to the logic board. Use this guide for that task. After that clean your logic board with a high grade isopropyl alcohol. Here is a general Wiki. Once your cleaned the board, let it dry. Reassemble the iPod and use a new battery. The lithium battery do not tolerate any water and are unforgiving. Once you have the logic board cleaned and dry, replaced the battery, reevaluate for any further damage. It is possible, that your display as well as your HDD will give you problems. You can check the HDD before reassembly by getting a USB-to-Zif adapter. That would allow you to hook the HDD up as an external drive to your computer. Worst case scenario would be that you would have to replace the logic board, the HDD, the display and the battery, possibly the headphone jack. Sounds like a lot, but it is absolutely doable, and might be ~ $120, depending on the size of the drive. Not a bad deal for an iPod of this quality. Hope this helps, good luck.