I just replaced my water pump today! The process went pretty smooth, I have no leaks(knock on wood), and everything looked good after a 20 mile ride. I'll post the "tips" I noted on the other water pump thread that was just posted. Thanks again for your thoughts.
"As far as tips go, the replacement is pretty straight forward. Took me about 2 hours due to taking my time. One thing I was not prepared for is the oil(not coolant) you lose when you remove the assembly from the bike. Be sure your drain pan is in place for that step as well. I had to add half a quart of oil after removing the old pump and putting the new one on. Otherwise, it was painless. Drain coolant, remove old pump/hoses, put new pump on, put hoses back, fill coolant, start bike, check coolant level, add if necessary, ride away! I used 2.5 quarts when filling the system."