I'd have a look at the belt and check it's condition.

 

Reman water pump is $27 over at advance.

 

I did that job initially cuz the water pump bearingwent bad after 125,000 miles, then I seen my timing belt had tears in it from the slop created by the water pump bearing wobbling and I got a new belt and new water pump for 80$ together. After seeing what a bitch of a job it is to do I wouldn't even consider throwing the engine back together and assuming the water pump or belt is good.

Its a bitch just for the plain fact the timing belt tensioner can be tricky especially if you lack patience like me, and getting the belt pully off the crank was kind of ****ty too but the hardest part was getting the cam nut off so I could take that plastic shield off to get at the water pump. So hopefully I've got 100,000 miles ofbreathing room now.

I think the water pump bearing goes out just to alert you to changethe timingbelt....lol

 

the book says to have the crank a 1/2 notch off while installing the timing belt because if you install the belt properly, then the crank will move into position so the mark is dead on...