In my thoughts though, I wouldn't think that the water pump is bad. If it was surging or cavitating it wouldn't spray water like you are talking about. It sounds to me like a water pump seal leak, or maybe a pinhole sized hole in the hose going to the water neck. Also keep in mind that the radiator hoses are right below the battery also. I've sheared those several times (with my engine movement problems), and the water did spray everywhere like you described.
Angel if I were you, I'd take the battery out in the morning and look at the hoses for creaks or holes. Pull and twist them as much as possible to expose the leak. If you can't find anything on the hoses, try tracing the coolant leak on the block. I bet you'll find the radiator hose is busted. I hope that is
. I don't think you're quite in need of a rebuild yet.
[This message has been edited by Emc209i (edited 12-09-2007).]