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UPDATE: So my buddy who gave me this machine said this G5 already leaked and Apple sent someone out to fix it once already. Is it eventually going to crap out agin?

Maybe if it does, you could be one of the lucky ones to get it replaced with a new Mac Pro. A few on this site has already had that happened to them.
 
UPDATE: So my buddy who gave me this machine said this G5 already leaked and Apple sent someone out to fix it once already. Is it eventually going to crap out again?

Everything will fail eventually; the question is when.

If a leaky LCS system is your worry, then you might invest in silicone oil to replace Apple's coolant. Non-conductive; if there's a leak, one just fixes the leak and wipes off whatever parts were affected.
 
I just sold my 2.5 Dual G5 PowerMac and made $1100.00 😀 I'd suggest selling it and putting the $ towards an Intel. Just my ¢2.
 
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