Dropped iTouch in water, now acting weird?

I dropped my ipod touch in water, and dried it out with rice for a couple days. After that it wouldn't turn on so I tried to charge it and still nothing. But after a couple of minutes my computer recognized it and synced it in iTunes. I was able to turn it on by could not slide the unlock bar and the backlight is totally dead. Is it a total goner? Should I put it back in the rice?