Some grey pipe was involved in a suit.
Most of the problems were in the plastic fittings with Polybutelene pipe.
I would factor in the cost of replacement if the pipe is polybutelene and plastic fittings were used. Some people think that the product is fine. Installations with metal fittings have been holding up.
Polybutelene pipe is a soft plastic pipe. I don't recommend it.
A Washington Post article on June 15, page F4, reports that homeowners who had polybutylene plastic pipes breaks before August 21, 1995, have only until August 21, 1996 to file a claim for reimbursement from the Consumer Plumbing Recovery Center at area 800-867-4698. About 37,000 homeowners have had their polybutylene plumbing replaced so far, under the terms of the national class action settlement.
Qest� Polybutylene, U.S. Brass Bankruptcy
Polybutylene Plumbing Class Action Page