Well, I have checked all of the capacitors on the radio (I pulled off every panel I could find) and never found a leaking capacitor. Since I am going to use it as a recieve-only radio, would this problem effect this?
Trust me, if they haven't yet been replaced, they have leaked (or will very shortly). Replacing them now may prevent you from having to replace the board (and the marginal caps on it) when the caps destroy it. The caps generally start failing within 8 to 10 years and most Spectras are well over 10 years old.
I have done several recap jobs and only one or two showed any sign of damage visibly prior to removing the old caps. The instructions on batlabs are good.
The bad caps affect the transmit, receive, computerized control, audio, and control head board. Since you have the Fail 001 error already, you either have damage or are attempting to program out-of-band frequencies (unlikely since you didn't indicate this error was from programming). Other tell tale signs are loud pops in the audio and a dim display. Since there are 4 of the caps in the audio section, this is often where you first notice the damage.