I'm a new member to the Greenhulk (great forum), and have a few question after a fairly long story.

About 2 weeks ago, I started my 2004 MSX 150, (which I've had since it was new) in the driveway , and turned on the water. When it started up, it revved up to a gazillion RPM's so I shut it off, then started it again a few times before it started idling. In the meantime, I didn't turn off the water, and after a few minutes of idling, it burped a big stream of oil. I immediately shut it down, and checked the oil - which was milky. Called the dealer and they changed the oil (4 times) and the filter.

We took the MSX to the lake the following Sunday, and it started right up. Idled out past the no-wake zone and hit it. The warning light / check engine light came on, so I shut it down. Started it back up and the same thing happened again - so we loaded it back up and took it home. I checked the oil, and it was not milky, but I noticed the engine coolant was low. When I took off the cap - it had an oil slick on top of what little coolant that was left. I cleaned out the oil, filled it back up with antifreeze and went back to the lake. Same thing happened, so I called the dealer and took it back. They said the water pump was not working correctly, and it needs to be replaced.

And now for the questions:
(1) Would a bad water pump force oil into the coolant & if so - how?
(2) Do you really have to pull the engine completely out to replace a water pump (16-18 hours labor)?

Any help will be greatly appreciated. I don't want to shell out 2 grand if it won't fix the problem.