I wouldnt change the opti as a preventative thing, they are way more reliable than the internet would have you believe. My OEM was changed as a while you're in there thing when doing the cam at 108K, I broke two shortly after due to my stupidity (left the vent tube laying in the framerail which then filled the opti with water during the first rain, the second one I cracked the rotor, installed anyways and it exploded on a 7K rpm pull.) Since then a crappy parts house reman has been running to 7K atleast once a day for 70K miles, just ask the internet thats impossible.
Id do the plugs, they are probably due anyways, they are quite the whore in the fbody, you can get a short spark plug socket from craftsman/slp that makes a lot easier.
The wires are a damn nightmare, If you do them, don't use the crappy parts house wires, they coating is too thin on many of them and causes arcing everywhere. I think 7.5mm is the biggest that will fit in the OEM wire holders. I got some nice 7.5mm Taylors from summit for like 50 or 60 bucks. I really dreaded doing it but you'll need them eventually so might as well do it once and do it right.
The cap and rotor isnt that expensive, but given how much of a pain it is too change, not many do it for maintenance like you do on every other distributor equipped car. If you decide to do an opti or cap and rotor Id probably buy one from chandler motorsports, there like 80 bucks.
About the water pump, Ive never worked on a vette lt1, but FWIW the vette and bbody pumps are a different part number, and on an fbody I dont think it would be possible, too much of the opti is behind the water pump. It may be possible, but hell its only 6 bolts and a few hoses I wouldnt spend half an hour fighting with it when I could just pop the water pump off and do it the way every one else does. Also if you do a waterpump, I would strongly recommend an electric water pump, I put one on right after I bought the car and mine leaked. It was about 200, now they are about 260 but it makes changing them SOOOOOO much faster, just pull like 6 bolts off the face of the waterpump and you can swap them out, plus it frees up some HP, and takes some stress off the front cam bearing since the OE pump is cam driven. You only buy the EWP, you can reuse the case of and old failed waterpump.
Also verify you have the LT1 and not the L99 (a 4.3 baby LT1) They look identical on the outside, and Ive seen a bunch of people get burned buying "LT1s" and finding out they are L99. 8th digit of VIN should be a P if its an LT1.