I had a CJ-5 go nose down into a lake once. Yup, a right off 'they say'.
Find out what the buy out is for the 'salvage'.
You can drain all the fluids,flush out the rad,block,tranny,etc. Dry out the
wiring( dis the dash go glug,glug,glug ?),bleach the heater,wiring,etc.
Given a nice warm garage,lots of patience and a week or so, I don't see any
real reason why it can't be back on the road.Mind you I haven't seen it, but
have 'been there,done that'.
hth
j