Basement water and wall problem


I live in a home that was built about fifty years ago. The south wall is pushed in an inch at the bottom. There is a hole about six inches aboce the floor line and when there is a heavy rain, water comes through that hole. Not flooding the basement, but approx. 50 gals. Got a new shop vac for that reason! I had some people bid out the job and found the following: the wall is to be repaired via wall anchor system. The waterproofing is as follows: dig a trench on inside I believe just below footer tiles, fill with 57washed gravel and a drain connected to a sump crock that will pump to the storm drain. The area will be recemented and the weep holes they put in the wall to get the water out will flow into that drain.
I was told the way the water is coming in is from the water able under the floor, when it rains it fills the area and then it seeps around the footer and goes up the wall that way. I assume the footer drain on the outside, probably ceramic pipe is only doing part of the job. Is either clogged or broken.
Does this sound like it will take care of the problem? This southern wall is the only one where the water comes in at...for now. I also assume that the new drain and sump will take care of any other wall leaking because it should take the water from under the floor?
Thanks for the input!!!
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I recently bought a house that has the exact system you describe installed on my back basement wall. It works well. There seems to be an underground river that runs under my house every time it rains. I'm amazed how much water goes into my sump when during an after a storm. I too wonder if it's just a matter of time until the water finds it's way to another wall in my basement. Hasn't happened yet but I'm wary of putting a rug down there. The guy across the street from me went the whole 9 yards and has a skirt installed around the perimeter of his basement that drains all walls to his sump.
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see your immediate neighbors especially if they already solved their similar problems for the best info, and read up at: http://www.buildingscience.com/resources/foundations/Understanding_Foundations.pdf
http://www.buildingscience.com/resources/foundations/renovating_your_basement.pdf
http://www.buildingscience.com/resources/foundations/Basement_Insulation_Systems-2002.pdf
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