[~The Jester~]

A/F dripping from the back could be intake gasket, head gasket, or a freeze plug on the back of the block, or a cracked block (that's what mine was). Normally a good running engine with a tight exhaust system will spit water. It's just the exhaust gases condensing inside the warm pipes. Actually alot of newer cars actually have drain holes on the mufflers just for that reason.

Now if it's spitting ANTIFREEZE out the exhaust pipe, then I'd start looking for a head gasket leak, cracked block.