Hey OP, I actually just replaced my water pump today. My bike only had 3500 miles on it when I noticed a small amount coming from the weep hole. However, I believe my early signs of failure were due to the previous owner not winterizing the bike for 5 years.
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.
Unfortunately water pumps from the factory and every retailer I checked were back ordered. I got very lucky and found one at a local dealer.