JeffG:Its still positive. The amount of being positive would depend on the underwear. Water itself is neutral. OTOH...Getting out of the water would be a lot tougher.
I did have my suit flood once. Flooded big time. I stayed in the water near the exit point for a while just to see what would happen. After 20 minutes it was very cold with all that 54F water inside. Then I tried to get out. When standing the water was up to my waist and must have added 30 pounds. It was hard to walk. I had to lay down feet up in the air and pop the neck seal.
Yes NOW it makes sense that if there is any air in the suit it would be positive but when I was on the beach lastt night, a little light when on that said "Now is not the time to try out something you have not thought through completely".