+++ These guys have it all right.
CPES is great stuff, but there is nothing that will cure wet, you have to dry it.
Funny thing is, wood that gets wet and stays wet rots the slowest as there is not enough oxygen. The most dangerous part is when you dry it out. If you can dry wood quick enough, you can often avoid the rot. Take core samples to know whether you have mush, dark wood or just wet. Also a good way to find the extent of the problem.
Once you start drying wood, dry it, don't fiddle around.
I've been surprised what I could accomplish with a hole saw and a hair dryer, followed by a constant running fan, though nothing beats removing one side of the glass skin. It all depends on the size of the problem. If you have wet wood with just a few inches of travel around a fitting, then pull the fitting and use the hair dryer/fan method. If you have a large area, plan to remove the skin, at which point re-coring is the easiest method and most sure fire way. When you are putting in new/dry wood is the best time to consider using CPES.
Sorry, no magic bullets.