So I decided to be proactive and replace my water pump before it had a chance to die. Well things did go as easy I had anticipated. I followed the howto for the WP replacement. But when it came to the point were you separate the two parts of the pumps I ran into a problem. My gasket had 'corroded' so when I split the two halves, part of it stayed with the housing, part came off with the pump. So I had to remove the housing, which was not fun (I hate those stupid hose clamps). Eventually I got it out, cleaned it up, installed the new pump and put everything back together.
Total time to dismantle: 2+ hours
Reassemble: 1 hour
All in all, it beats sitting at my desk.