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It might not be worth replacing if too many of the parts are fried. Thats the problem with watercooled computer...
 
Just for reference,

Last December my G5 2.7 started to leak. I called Apple, they offered free on site repair, but I lived outside of the repair radius. So I drove it into the Apple Store, they took it back, said they'd diagnose it, repair it, and call when it was done. They called back about a week later, saying the repair didn't do the trick, so they'd replace it with a new 'like' machine. A few weeks later, I had a 8-core 2.93 Mac Pro sitting on my desk! Sweet!
 
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