While wet insulation provides a clear indication to a potentially severe CUI condition, wet dripping pipe means far worse.  Wet dripping pipe indicates the very last opportunity to avoid a much larger problem and potentially a more catastrophic failure.  The potential danger which exists is generally dependent upon the location of the leak.  A pinhole leak at a larger main represents a larger repair cost although a lesser threat of bursting, whereas, a leak at a threaded connection always presents the opportunity for a total pipe separation failure.

Since any form of wet dripping pipe can be detrimental to building operations, it should be addressed as soon a possible to reduce further damage.