On ABC Radio recently Shannon Lush (who wrote the book Spotless and her new book Stainless (books on how to get rid of stains)) said that electrical items could be saved by washing and drying them out.
The person who heard the program then spoke to someone I know who had one metre of water through their home for 12 hours a few years ago down south. They did this with their refrigerator washing machine etc. and they all worked.
Needless to say they would need to be checked by an electrician.
They also just hosed down their gyprock walls which eventually dried out and were perfect. The doors on their solid wooden kitchen took much longer to dry out and had to be done naturally – took about 18 months before they were able to close but they did!