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+1. I believe it to be relatively an easy replacement job. I have not really seen a DETAILED DIY. Just that one DIY with a few pics here and there. I would really like to see someone do a step by step DIY.
Btw... you can buy a new BMW (dealer)pump & thermostat from one of our forum sponsors for under $500 for both! That is a much better price than $1,200 that some have paid stranded at a dealer in Timbuktu.
I am almost at the right miles to start thinking about doing a waterpump replacement as well. Humm.... 
Dack
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Maybe us higher mileage owners should buy the parts and just keep them in the trunk in case that happens
Ask them to quote both parts and labour AHEAD of a failure and then surprise them by producing the parts when your car gets towed there. Keep 'em a little more honest.
Thats if you don't proactively replace them ahead of time that is.