I have read two different things depending on the amount of water......dripping is just condensation and a part of a healthy engine. Shooting water out could be a blown head gasket or cracked head. I need a lot of input on this before I start digging more than I should!

 

a blown head gasket will show up in a compression test and you will have milky oil and/or oil in the coolant.

if you hadcoolant shooting out of the exhaust, you would run out of coolant before you drove 2 miles and your engine would seize up.

 

yea drips of water is condensation

 

i you have thick white smoke you have a blown headgasket. if tthere is just water, its just condensation, dont worry about it