I shot a deer first morning around 7:30. It was raining and we did find blood but not a lot. After tracking for a couple of hours in the rain we lost the blood trail completely and it poured the rest of the day. The next day my husband shot a deer at the end of the afternoon hunt and while looking for his blood trail we found my deer from the morning before. It had lain down in a foot or so of water near a brook flowing through a swampy area.  When I shot him I could not get him to stop and my shot was off and I had hit his gut, hence the low blood sign. The water was very cold and most of his body was submerged.  My question is, is the meat still good after being there for a day and a half?

Air temp was about 55 during the day and about 38 overnight.  The water he was in was very cold, probably high 30s-low 40s

I agree with Fossil, being gut shot and probably the stomach or intestines ruptured nothing will taint the meat quicker. Sorry as I am to say I wouldn't eat it either. As far as the gut shot goes most of us have done it if we'll admit so just chalk it up to a bad experience and keep on hunt'in.