I'm not entirely clear on what your question is -- it seems to be, "Can I fix this myself?".
If so, the answer is "Probably, and if worse comes to worst, with plumbing experience you can always replace the Ortega valve with 1 or 2 ball valves."
You also seem to be asking if a leak on the pump discharge side will leak water, rather than suck air. If so, then the answer is, "Yes, you are correct.".
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