[Skunkworks] Dead iPhone due to lack of charge..

I have just been souved a dead iPhone (3GS) that the previous owner purports to have died due to lack of charging -- apparently he lost USB cable (and decided to move on to the androids) I am determined to try and revive it -- So my question is - has anyone ever experienced such a situation ?? Does the iPhone just lose charge, die and completely lose its 0s and 1s never to wake up again ?