Its raining coolant, hallelujah - '90 740 Turbo

Grab the fan/water pump shaft and give it a wiggle, if it wiggles up and down the pump is definitely shot. The coolant shouldn't have damaged anything, that stuff is all pretty resistant to liquid since the area under a car's hood is quite a harsh climate in general. I forget what layout that year uses but the power steering pump may be on the same belt as the water pump so bad bearing means loose slipping belt as well as coolant leak.

My SAAB 9000's and 5 series cannot take this abuse. I know. I finally bought a Hepu water pump this week.