You may be throwing money at a non-problem. It could simply be the way your guage is reading. Ford dash guages are inconsistent and poorly made and none of them read the same. If you replaced the fan clutch and you aren't hearing it engage you can't possibly be running too hot if it's working. Regardless of whether the water pump is worn out or not the fan will engage when the radiator pushes hot enough air to the clutch mechanism. I would find it VERY hard to believe that the pump impeller could possibly "wear" out enough to effect cooling. If so, you have many more problems than the water pump. I've actually never heard of one wearing out.
The best suggestion I would have is to get yourself a thermometer and take a reading. Every guage in these trucks is different. The original one I had on my 97 would go all the way to the "L" before the clutch fan would engage and it would come back down barely to the "M" and disengage. I had to have the guage replaced when it stopped working and the new one would be on the top side of the "R" when the fan would engage and it would cycle all the way down to mid "O".
Again, you probably don't have a problem at all but, instead of throwing money at it you need to find out what temp it's actually running at.
Larry