I'm guessing it's probably not locked up especially if the engine was not under any kind of load "forcing" the engine to turn over, as you would if you were treading water and the inertia of the car force the crank around. I have hydrolocked a ford modular engine once, while reving the engine in neutral... the engine had sycked water in during a car wash...I pulled the spark plugs, cranked and all the water came shooting out...next, drained the oil and refill. You will need new plugs at the very least.
By the way, you're not supposed to run the engine without you holding the vacuum hose, so that the engine just SIPS the water, not chugs it.
Good luck.
Juan
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