MacBook Pro will not boot properly

About two weeks ago a small amount of water was spilled on a friends macbook pro. It has been sitting since then and I decided to see if i can get it running.

When I press the power button (as one normally would when you start a computer) I can hear the HD try to spin for maybe a second or two, the front indicator light comes on, and then the computer shuts down immediately...BUT, when i hold the power button down for about 5 or so seconds, the hard drive will spin up and after the front indicator light blinks at me I can release the power button and it will boot as normal and run like a champ.

I am tech savvy but do not own a mac so please forgive if I don't use apple speak :)

FYI: its out of warranty

I have already performed the following tasks without any luck: reset NVRAM, installed new HD with ghosted image of original HD, taken the battery out to cycle power, tore the MBP completely down to the bones and cleaned the heat sinks and thermal paste (yes i applied new paste).

I am currently working on acquiring an OS disc (Snow Leopard) to try a clean install and see if that helps....

ANY IDEAS???

Cheers,

Wyz