I have a '03 stepside, 4.8L (64k miles) that's losing coolant. There is some discoloration where the water pump meets the engine block. Any guidance here about where to start? Thanks.
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The weep holes are warning signs that your pump is failing, and also causing the discoloration. Change the water pump and the T-stat at the same time.

 

Once again cracker is right, pump time.

 

Hah...who says alcohol clouds your judgement.

 

Smoke/Cracker,
Are these weep holes/ indicaters at the area where the pump mounts to the engine? Sorry to be a blockhead, but failues of water pumps on past trucks were different.
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mine was leaking from the constant tension clamp that connects the raditor hose to the waterpump

 

The weep hole is below the line of sight when looking at the top of the engine. I assumed your view was from that vantage. The coolant will follow the "arms" of the pump to the block and leave a residue of rust and debris that naturally occures in the coolant system.

 

Thanks for your help. Should the timing belt be changed at this point while the pump is off?
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Only if there is an issue. How many miles on yours?

 

Timing belt?..i'm not even as drunk as cracker tonite,and I know there is no timing belt...just a drive belt....

price a gm pump...comes with a thermostat as well,and you won't have to change it again next month