Yep. Fire departments respond to more than a thousand fires a year caused by folks attempting to deep fry a turkey. Physics in action: displacement, hot oil, and the slightest amount of water or ice make for great "hold my beer and watch this" moments.
My friend fried one last weekend. His comes out the best. Brines with a spicy brine. He uses lower temp then most. 300 degees and 4 minutes a lb. He been doing them for many years and says the lower temp works better.