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Water pump seals are a time and mileage thing. The seal has a rubber boot that will fail just as hoses do causing a leak. Are they saying the pump needs changed due to a leak or an overheating issue?
Water pumps are not difficult to change on these cars. Pull the belt, power steering pump. The pump is a large unit that also holds the thermostat. Have a look at pumps from parts sellers for an idea what to expect.
I don't recall the time to change on my 97 SL320 ( pretty much same pump as your 300 ) but expect about 3 hr.
If an overhearing issue, check the thermostat first. The bridge broke on my 97 C280 ( similar engine ) and caused a too cold at speed and kind of hot at low speed. Never pull the t stat then run this type of engine, the back of the t stat has a disc that blocks the bypass port when the t stat is open.
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