On my 90 740t with a 94 940t's L-block...

I put a used engine in my brick 2 years ago. Its top water pump seal was damaged by a leaking front cam seal, which I've already replaced. I've got a water pump seal, and doing a timing belt sometime before december would be a good idea (no idea how many miles are on the belt). I've done several water pump jobs, unfortunately.

Am I really taking off enough doing the water pump job to make the timing belt job any easier, or is it just adding to the madness?

If I do the t-belt job, I intend to do the rope trick, after looking it up in detail. I don't have the money, multiple cars, or interest in buying a counter-hold tool for $40.

Cheers