Overheating Problem - 94 Cadi STS

Cadi Seville STS 1994, 170k miles 4.6L V8 Northstar. I had a leaky radiator and some overheating problems. I (DIY) replaced the radiator, thermostat, and hoses (upper & Lower). Not overheating now, but my testing showed that temp still reaches 223 F before fans kick in which reduce it to 212 F. This 223 F - 212 temp seems a bit high so I checked engine area and just noticed a small leak coming from original water pump. I think you call it the Weep Hole area (at bottom of WP outer gasket). I suspect a leaky seal in water pump, causing poor engine coolant circulation, allowing temp to rise to 223 F. What do you think, and would it be difficult for me (DIY) to replace water pump? It seems easily accessable, but not sure if any special installation considerations are required. (Ie bleeding. Etc.)
I also want to avoid & check for a head gasket leak, but not sure how.
Thanks in advance for your help!