Tried out a 30% solution of hydrochloric acid I picked up from the hardware store. I then partially filled a flat glass container with the acid to a depth of few centimeters. Dumped a PCB board into the container to see what happens...
Electrolytic caps don't survive too well.
SMD resistors lose their silvery coating...but can be repaired with a bit of tinning.
Some SMD capacitors disappear...I swear they were there before I dumped the board into the acid.
Some components with a pasted heatsink (SLA4031 for example) lose their heatsink in a bubbly champagne.
All SMD IC's survived as well as their labels.Some of the metal tabs were slightly tarnished while others were still shiny. The acid did not penetrate into the protective "epoxy" casing through the seam joints or travel into the casing through the metal tabs.
After two hours suffering at the hands of my sadistic methods, I retrieved 45+ IC components, ranging from optocouplers to processors. Here are a few I had after rinsing under water and drying...

PROTECTIVE GEAR AND PRACTICES ARE TO BE OBEYED AS PER USE OF HCL