Frank-
It is possible that the motor could be failing. It would be very uncommon but if the shaft does not turn silently and very smoothly then the motor is probably junk or close to it.
That does not mean that the bearings are not bad however. But, if you determine that the motor is bad then it is easier to replace it and run it and see if you hear anything with the bearings.
I have never heard of this happening but your situation makes me wonder if there is a scenario where the water from the tub leaking could get into the motor and assist in shortening the life of the motor.
When you spin the drum, you usually will not be able to tell if the bearings are bad unless they are really damaged over a long period of time and have totally failed or if the spider has broken.
Jerrod