1986 Bronco, 351w, Edelbrock aluminum top end, Holley 600, 4" BDS lift, 35" Maxxis Razr's, stuff..
That's great - good work! If your water pump is leaking out of the little hole in the pump housing it shot and you will need a new one. If it isn't leaking there, I would drive it a bit, often times coolant leaks will kind of clog them selves up and go away. If it doesn't, you'll probably need to pull the pump off and reseal it. Way easier than dealing with the timing cover leaking so you've got that going for you.