Near the end of the summer I maidened a 109 jn Lanier Taylorcraft. It was swinging a 19 in prop. Well, I had a bad equipment failiure, found stripped servoes after crash. From about 75ft it suddenly went inverted after a turn and with no response from the elevator she nose dived into the water splintering the prop and destroying the plane. The engine was about half to 3/4 throttle. Repairing the damage wasn't an option. After retrieving the wreckage I pulled the engine ( which was new and had 3 tanks of gas run through for break in) and took out the plug to drain any water from it, didn't find any, but I'm sure some got in because the engine was dangling in the water a foot below the water level and not sure of what to do I soaked the engine with wd 40 to prevent corrosion. There doesn't appear to be any damage, bent shaft or crank, I put on a new prop and spun it without seeing any deflection of the prop arch so I'm wondering if this was a good way to prevent corrosion. I haven't run the engine yet after the crash but I was wondering if there is something I should look for when I run it again. I plan on building a Balsa USA Piper Cub and for sure would like to avoid the expense of buying a new engine. In the event of a nose over in water would the use of wd40 be a good precaution against corrosion or is there other alternatives?