Re: Water Pump change
Easy peasy, that's how hard it is. I've done them on a Rude 140 by myself, so the 70 will be no-brainer. I found out, over the years, that most of the "daunting projects" I have attempted weren't any where near daunting when I was finished. It'll be the same for you, I'm sure.
As to what else to do, I'd change the lower unit fluid, of course. I'd also want to run a compression test and a spark test so I know where I stand (these before anything actually). And then I'd inspect the complete fuel system, to include every little fuel line hose on the powerhead all the way back to the fuel tank, replacing any length that looks worn or cracked. Again, that's one of those things that sounds daunting, but it really isn't. When was the last time the carbs were cleaned? If you don't know or it's been a bit, I'm sure they could use it and it might prevent being towed back to the dock.
To give you an example, I just picked up my current boat a couple of months ago and it spent 10-12 days in my garage while I was getting it "ready". And that included a steering cable replacement that was a 'must-do' that caused me fits to start. I've just always felt it was better to go through all systems and fix whatever's broken BEFORE it leaves me stranded. A member named, JerryJerry has in his signature line "If your outboard doesn't start within a few seconds, something's wrong" and I think that sums up boating and boat motors nicely. We tend to "put up" with some things or "put off" others, and then, oddly enough, we complain about the manufacturer, lol. Spend a little time getting it ready and she'll give you tons of happy memories in exchange.