I bought JetFlash JFV30 1GB 6 months back and is working fine. Two weeks ago I unknowingly left the drive in my trousers while I washed it. It remained submerged in the Bucket full of water with surf detergent for 2 hours. Later when I searched for it I found it inside the wet trousers

. I hoped for the best an dried it under the fan. Luckily its working fine now.
BTW, the shopkeeper told me that the lifetime warranty is till the life-time of the product.