Adam, it does not really matter how much water was involved, it will depend on where it got into the phone and if it shortened out any of the SMD components. The very first thing you want to do, is to clean your phone. This will prevent failure caused by corrosion late on. The procedure for cleaning your iPhone is pretty much the same. Use these guides to work on your phone. Disassemble it and clean it using this guide. It was written for a 3G but all the points are still pertinent to your phone. Use 90%+ isopropyl alcohol to clean it. Once you got it cleaned, replace the battery and reassemble. Then re-evaluate for further, if any, damage. Yes, it is "possible" that this is cause by your dock connector, but also by numerous other possibilities. Hope this helps, good luck.
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