My Bonneville wasn't hydro locked afterall.
But I'm going to replace the parts anyway, to prevent the problem. I'm a new owner (1 year) so I don't know all the "in'*-n-outs".
Like I said with my post about my ex-Olds. If the key ever starts getting worn (or is dirty), you should notice the security light will stay on when your driving. And if you ignore the problem, it will eventually get to the point where it will activate the security so you can't start your car!
But now you have two keys if you ever have the problem again!