I am about to change my water pump and I noticed a slight leak around the timing chain cover on the block side, since ive never done it, how tough is it to change out that gasket? Thanks

 

its pretty easy
it is just a few bolts
once it is off, you can also check out your timing chain

but be careful
it is sealed on the bottom by the oil pan gasket (in my case)

 

You will need to remove the dampener pulley from the crank. You can borrow a puller for that from Autozone. Along with the cover gasket, replace the seal for the dampener. Buy the gasket and seal from Autozone in exchange for the puller loan.
You may have to leave a deposit and they return it when you return the puller.