So when the power button stopped responding I was a bit saddened.
I fought off the urge to say stopped responding suddenly -- as apparently nothing is sudden. The malfunction might have been brought on by a few drops of the bag.
Found a video from powerbookmedic.com on disassembling (through a link on ifixit.com).
And apparently opening it up and tightening a few screws does the trick. (Short of that I would have tried inserting a spacer between the button and it's contact suggested by one comment on ifixit.