I replaced my water pump a month ago and can attest that there is NO ROOM WHATSOEVER!!! It's a pita to remove the boltes, it's a pita to take the pump out, but that's child's play compared to trying to but the new one back in with all the sealant on it. Me and my friend had to remove the passenger side motor mount and raise the engine a bit (we were using a repair shop
) and it helped. But be prepared to bleed
As for the alternator, it's a walk in the park compared to the water pump.
One more thing - you might want to do both at once as this will mean you won't have to remove some belts twice.
HTH
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