[PLP]

Seeing this info, I would say - well, tough decision. You can buy yourself an expensive list of problems to address.

My other reply, I still stand for it, does not matter now, as the water damage is very tricky to recognize after repairs were done.

Originally Posted by PLP

Well... could be... it is possible to accumulate more water.

Imagine, if you start cold, rich mixture, cold exhaust, all water will condense. Until higher revs or warmer temps, the moisture will stay inside. Do it twice or so and you can fill the exhaust with a lot of water.

At some point you will puke it. If the water is gone and does not come back, you are good.
If that was the coolant - well, you would know after first warm up.
Let me put it this way - if water can get through (to the cylinders) exhaust gases will, too. At much greater rate.
Then, you get overheating, pressure in the expansion tank... you know the drill.