I have these on my current home, and have had them since the 70's. i've replace the turbine section at least 4 times. Additionaly I have had them damaged by hail. When it rains, if there free to turn, you don't get any leakage of water. But if the bearings are bad, then water can enter.
They are kind of ugly too. I have never plugged or covered mine in the winter. Moist air entering the attic from the home needs to be removed. I've heard of, but not seen myself, ice on the underside of the roof decking.