On the 4.6 Northstar motor the water pump is located on the driver's side. The process is pretty straight forward, but you must buy the special tool. This is like a large huge socket with notched teeth that grab the "ears" of the pump. I was able to buy the tool at local auto parts store for around $20+. Here is how the job is done in the images below.
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Wednesday, September 26th, 2007 AT 11:02 PM