I took my iPhone 3GS into the Boulder ARS for a repair, and the Genius checked the external _and_ internal moisture indicators. He told me that he would check them all, but if the internal had tripped he couldn't warranty it. I run and cycle, etc, with my iPhone and wasn't surprised that the external indicators were red. The internal indicator had not. Apple fixed my phone under warranty.
4/16/10 at 6:05pm