Don't get confused about the weep hole. While an excessive amount of coolant exiting the hole can indicate a problem, it's true purpose is to allow the small amount of coolant which is drawn past the water pump seal by capillary action during normal operation to be expelled so as to keep the grease in the bearing housing from being washed out. Should that occur, then you will have a problem. If a small amount of seepage such as that shown by SickDuc is observed, it shouldn't necessarily be interpreted as a sign that failure of the water pump is imminent.
Endodoc... I think I could do the aluminum bypass... a little piece of mind compared to the plastic housing, and in my location, my bike's already registering the coolant temperature when keyed on cold. How much did that set you back? The metal water pump gear... the possibility of it having an impact on the service life of the water pump can't be discounted, huh? I don't think that anyone would tell you that the potential wasn't there. Did you install one? What about the pump idler gear? Is that metal as well? Personally, while I know the OEM nylon gears are often frowned upon, they serve a purpose, or two, or three. Some might consider them a design attribute. They allow Ducati to optimize the vehicle's power-to-weight ratio (a primary objective in the construction of any superbike), minimize production costs, and equally, if not more important, the nylon gears provide a weak link in the chain. If the nylon gears disintegrate, you run hot and have to pick nylon teeth out of the oil pan, but you can overcome that... not a problem. What happens if you run a metal pump and idler gear and the water pump fails and seizes? The possibilities are endless. Will the metal gears give, or will the primary drive gear continue to turn the gears against a seized pump until the engine case on the inlet side of the pump sustains irreparable damage? ...perhaps not the most likely scenario, but possible.