I mean... with global warming and all... will Venice be eventually covered? I haven't visited the place!! (Ain't got the dough, yet )

you bet.
I've been to Venice in 1990 and just got back from another trip to Venice a couple of weeks ago.
When you take a gondola ride or just plain check out the entry stairs leading up to the buildings, you realize how many steps of the stairs are already under water.
With some buildings you won't be able to use the first floor pretty soon, because of the ising water level.