Before I forget again I'd like to welcome both of you to the Corvette Action Center. I know that you will enjoy your time spent here.
Bill brings up a few excellent points here for someone that hasn't replaced a fuel pump before. The grease on the pushrod trick is something I have used for 40 years. Always works too.
There is a steel plate on the block that the pump bolts through.If you remove this the rod will fall clear out. It's a good time to replace this gasket anyway. Wipe the rod off and check the ends for wear. If they show cupping or indents from the pump arm just replace it. They don't cost much.
Here's another little trick that I use. After I grease the rod and insert it in the block and replace the steel plate I take a half paper towel and roll it up. Then I insert it into the opening. This will make sure that you can get ahold of the rod and push it back up again if it slides down while you are getting the pump ready to slip in. When the pump is ready just stick your finger in there and push up on the rod to make sure it is all the way up, pull out the paper towel and slip in the pump arm. Make sure you hold it straight and feel for the arm to contact the rod. There should be spring pressure you are working against when you tighten the bolts as Bill said. If you don't feel this and the pump don't seem straight the arm is off of the rod.
As Bill said this is the time to replace the fuel filter and the hard or flexible lines if necessary. If that flexible line from the tank line to the pump is old I would replace it now. The inner lining gets soft and can suck shut under hard acceration and shut off the fuel. (Voice of experience) One other thing. The fuel pump is lower than the gas tank. Use some vice grips or c-clamp and clamp off the flexible line before you loosen the connection to the pump. You don't want the fuel tank to empty itself on your garage floor. Replaceing the flexible line is going to be messy as you will have to hold your finger over the tank line to keep the fuel in while removing and reinstalling the new one.
As for wrenches, buy a quality set of line wrenches. You will use these many times over the years and be glad you have them. They look like a 6 side box end with the end left open. A good one will prevent the corners of your fittings from getting rounded off. I have Craftsman, Mac and Snap On in my box. I must like the Mac best as that seems to be the ones that end up in my hand.
If you have double fittings on the pump be sure to hold the pump fitting with a open end wrench while loosening/tightening the line fitting with the line wrench.
Good luck on your pump change and if you need any help just holler.
Tom
PS. If you need a correct numbers matching pump Paragon Reproductions can probably fix you up. If not AC, NAPA or others can supply service replacements,