Look now and avoid the bill later is all I can really suggest; A faulty cooling system will stress the motor, and an M30 with an old head gasket doesn't like stress at all. Check where the leak is occurring ASAP. After my experience I'd have to say I'm never keen to see my needle go North of half way, if it does I'm off the road.. I'll never run my car under load with the cooling system open enough to accept air. If it gets bubbles in the head (it'll create its own steam the moment u depressurise the system) this is what happens. Then coolant stops flowing. How long does it take to cook the head or blow the gasket? Only Buddha can tell you that dude... but your car is old enough to need it without going through the kind of experince you describe.
I wonder if anyone on the board has seen an M30 go past even 18 years of age without having it done... sorry I can't help moreNick