Well, I guess I got lucky. I had the waterpump checked out and it is perfectly fine. But, the thermostat housing gasket was leaking. The shop put a new thermostat in and ran pressure checks. Voila, no leak now. My friend said that the waterpump on the car looked to be fairly new and hadn't been on the car very long. Again, I lucked out. Thanks for all your help.

There is a dye you put in the cooling system and you drive it for a while, then you use a UV light and special glasses, then you can see the leak traces. Perhaps this info will be useful to you in the future for other leaks. I bought my kit for this at GI Joe's for $29.95,

The job took me 6hrs. 30min. Of that was running to the parts store for a coolant and a new belt. I removed the radiator to simplify the job. The tensioner main bolt (under the min./max gauge) was so tight that I had to use a breaker bar. I loosened the tension rod adjuster and removed the shock. Loosening the bolts upper/lower from the power steering pump that work with the tensioner were removed to slide the tensioner and adjusting rod over for clearance to remove the wp. I did not remove the Ac line.
The hardest part was the inner upper bolt on the wp by the dipstick. The old piece of plastic bag or paper shop rag to hold the bolt in the socket, a wobble head and the right extension (I think it was a foot long) ended up working out just when you start thinking jaguar designed this pump. I found a spot to get to it.
I used a magnetic pen to get the socket on the bolt. I did the same thing with the install. I got everything back together and stripped one of the three thermostat housing bolts. It's holding, but I feel uneasy about it. I guess it's my karma for buying the China pump. Next time I will buy a quality pump, tensioner and be VERY careful with torque specs! I have a punching bag in my shop and had to release some frustration a few times on this job!
Love novice mechanic,
Noj

Noj, best to buy a reconditioned water pump from your local MB dealer. You will pay a "core charge" if you don't give them the old water pump. MB provides a 1 year warranty with the reconditioned water pump. The MB Parts Department will match the water pump to your VIN so you will be sure that the water pump fits your engine and doesn't have any extra connections, as some folks have experienced when buying aftermarket water pumps.

__________________
Fred Hoelzle

Just paid $400 to have a new water pump installed on my moms '88 300SEL (as seen in another thread on here)

Now have a roaring noise from the front of the engine and now told it could be the tensioner. SMH.

Goes back to the mechanic Wednesday and I am sure something that I will have to pay to have repaired/replaced.