The only thing you might run into is the clutch fan. The correct tool is the easiest way to get it off, I picked one up at Advance Auto for cheap. You might be able to rent one.
The water pump bolts are notorious for snapping off in the timing cover.
+1 on the manual for the torque specifications, but otherwise it's a matter of removing everything in the way, removing the water pump, cleaning up, installing new pump, putting everything back on, and topping off the coolant. It will be messy, so make sure to have a drain pan handy.
1987 Ford Ranger Short Bed 5.0L/T-5 Project
1988 Ford Ranger Long Bed Parts Truck
1993 Ford Tempo 2.3L OHV HSC Auto - D/D Stock.
1999 Honda Accord VTEC Auto
2002 Dodge Caravan - 3.3L Auto