Apple has had moisture strips in iPods for a while now and you will only see them if you take an iPod apart. Essentially Apple is trying to stop people from abusing their warranty/return policy as water damage is done by the user (even if it is an accident), it is not something that caused the iDevice to fail due to bad hardware (which would be covered by Apple) or bad software (again, covered by Apple). Back in the day, people used to accidentally drop their iPods in toilets, bath tubs, and other forms of standing water. They would then let it dry out and Apple would repair/replace the iPod under warranty. Apple doesn't do that anymore as they will not repair/replace an iDevice whose moisture stip has changed color.
64GB iPhone 5 | 64GB iPad mini | AppleTV 2 (2012) | AppleTV 2 (2010) | 2012 15" MacBook Pro, 1TB SSHD, 16GB DDR3 1600 MHz, OS X 10.8.3 Mountain Lion | Apple Lossless | iTunes AAC 192kbps VBR | iTunes 11.0.2| Library size = 1.04TB | Legacy iPods: 3G 40GB, 4G 40GB, 5G 60GB, 160GB iPod classic (2009)