Aspartame, used in diet colas, breaks down in the body into many chemicals, including methanol, a known toxin. Methanol is also known as wood alcohol, and is often used as a paint thinner and an industrial cleaner. When it's metabolized in the body it is broken down into formaldehyde (think "embalming fluid"). Some effects in the body from drinking diet drinks include lethargy, fainting, headaches, nausea and vomiting, blindness, cough, breathing difficulities and other vision problems, birth defects in developing fetuses, as well as other reproductive defects. You won't find methanol listed as an ingredient in aspartame, but it's there nontheless.
Regular colas, on the other hand, include at least 9 teaspoons of sugar, which is know to compromise the immune system, beside leaching calcium from bones.
Water is far superior in that it adds nothing to stimulate, toxify or tax your organs and is great for flushing out toxins.

Some teas, lemon juice or pure cranberry juice are excellent, nutritious drinks that aid in digestion/elimination.
Probably more than you wanted to know, but knowledge gives you the power to make healthy choices for your body and prevent health issues later on in life.