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Question: Aftermarket modification or keep engine stock?

I just got off the phone with my mechanic after they discovered that my stock engine powered water pump is starting to go. Now I have a fanatical obsession with upgrading my LT1 Trans Am to squeeze as much fuel economy as I possibly can and it is here that I desire to have an electronic water pump installed over the stock engine driven pump to save on the energy spent to operate it. My mechanic recommends that I just have another stock water pump get installed but I am still thick headed when I am hell bent on squeezing out fuel economy from my engine. Am I going over board with this idea and do you feel that an electric water pump won't hold any significant benefits over it's manual counterpart? Also to take this to the next level, I also plan on having my air conditioning unit removed and to have an a/c delete panel with dummy belt wheel installed to further save on fuel economy. Will any of this help with enhancing my vehicle's fuel economy or are such modifications too risky to bother with? Thank you for your time.