Re: coolant leaking from hole in bottom of water pump??
If it's coming from the pump's weep hole, then the pump's shaft seal is going. That's the usual failure mode for water pumps. If, by chance, its leaking from the gasket at the back of the pump, you might as well replace the pump anyway, for all the labor you will expend to do the job. Water pump usually comes with a new gasket, and usually apply Non-hardening Sealer (Lock-tite #2? Somebody's number 2, I think, maybe in a black tube, check the fine print for antifreeze compatibility) evenly and sparingly to one side to hold the gasket. Replacement Pump will have sealer directions and torque's for bolts/nuts. More sealer is NOT better! Keep it thin.
Now's a good time to replace a hose or two, also (don'tcha love these "opportunities"). I would carefully cut the old hose off the radiator, rather than twisting or yanking and risk ruining the radiator. Rod Stewart had a song "The First Cut Is the Deepest", he must have worked on radiator hoses once, and scored the hose neck!!
I don't remember at the moment if the pump intake hose also includes the oil cooler Tee thing, or if the lower hose can be separated from that. That's assuming yours has an oil cooler. If you replace the hose with the cooler Tee in it, I'd be interested in knowing how many $$ they want for a good one. I have no idea!