normally the water pump is replaced along with the timing belt since it is right there so to speak. as far as a regular replacement interval i don't know what the exact time is, i don't have my factory service manuals here with me right now, but i would think its about time/getting close to time for that to be replaced soon.
as far as finding out if the catylitic - (cat) is worn out, you can kind of try to move it around and if you hear lots of 'stuff' inside rattling around the bottom of it that means its time to replace it. the material inside just gets worn out and can make the exhaust smell bad.
after talking to my husband here, a few other things that can be done that may help with the power & exhaust smell is clean out your throttle body. you can buy spray throttle body cleaner at pep boys for like $5 spray it in there, clean the grime out with a rag then start the car. the car will smoke on start up at first but this should help.
one other thing to check if you haven't already is the exhaust manifold. check for any cracks/leaks anywhere.
glad to try to help you out
Keri