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2nd Gen Ram Tech1994-2001 Rams: This section is for TECHNICAL discussions only, that involve the 1994 through 2001 Rams. For any non-tech discussions, please direct your attention to the "General discussion/NON-tech" sub sections.
I just bought the correct tool from a local shop for $30. Worked immediately, no issues. Right tool for the right job. See link: http://www.sjdiscounttools.com/kd3472.html
I just pulled my water pump. They make a special water pump pulley tool to hold the pulley but it costs $50.00. It has posts that fit into the holes in the pulley to hold it still. The strap wrench wouldn't work for me. I took it out with the fan still attached, but it's the hard way. Once you get it out you can put a long screwdriver in the pump vanes and then unscrew the fan nut. Good luck.