I think the reason that the bearing *may* fail is due to dirt getting in past the seal, you would be really unlucky for that to happen though.
Personally, if you can live with the leak, keep an eye on it and do it when you are able to do it.
The way it's done is by pullin gthe engine and pump as one unit, honestly it's much easier than you may think. Remove the hoses to the drive motors, case drain hose, high pressure hose from the pump and the suction line. You then remove the wiring to the engine, inlet and exhaust lines, coolant lines, throttle linkage and the blower belt.
You then remove the 4 mounting bolts, two at the back, two under the cab. Lift and slide the entire engine/pump out as one.
The pulley has a taper and key. They can be really tight to get loose. Tighten it up with a puller and tap the thread to shock it free. Remove the retaining clip and remove the washer, drill a small hole in the seal and pull it out with a self tapping screw and pliers. Replace the seal and re-install the engine/pump.
That is a very basic guide, i probably missed some things, but as you have done car engines before, i'm sure you can work it out.
You can actually make a lifting jig to balance the pump/engine. It should be in the servica manual the sizes and angles, they work very well.
Good luck with the surgery and the pump work.