Don't know if you've seen this one or not:
http://www.ttzd.com/tech/60ktech.html

 

Actually the TDC (top dead center) part is pretty easy. If you have the new timing belt, take a look at the back side (non-ribbed) of it. You will see 5 lines. There will be 4 lines grouped somewhat close together (2 sets of 2 lines), and a 5th line that isn't close to any of the other lines. The 4 lines will line up with marks on the cam sprockets and marks on the inner timing cover. The 5th line lines up with a notch on the crank sprocket and a notch on the crank sprocket guard. There are pics of this on the link that EMO gave you. This is the most important part of the timing belt install. If you don't get the teeth of the belt into the right grooves on the cam sprockets and the crank, then your timing will be off and you won't be able to set it properly. If I was in the area, I'd help supervise. If you can't find anyone and you get stuck, we'll all help as much as possible. It is not an incredibly difficult job, but it is time consuming. If your not changing the cam seals, main seal or VTC springs and o-rings, then the job will be a bit easier. If you have a friend who can help, even if he doesn't have Z car knowledge, recruit him. A helper is recommended and makes the job easier. Dad and I got it done in a weekend. We worked for 8 hours or so. We did change all the seals. We also installed a new radiator that needed some custom mounting, so it extended our labor time. Good luck. Comparing this to your clutch job, I would say the timing belt is less labor intensive, but more technically advanced. $180 for a timing belt and water pump install is a good deal, even for labor only. The dealer will bill out 4 hours, and in SF you could be looking at $80+ per hour. Just an FYI.

 

The VTC springs can be changed without removing the cam sprockets. To change the cam seals, you need to have the cam sprockets and the inner timing cover removed. If he's changing the seals, the water pump, the tensioner and the timing belt for $200, I'd say let him do it. If this guy will let you help/watch, that would be cool. Maybe he'd cut you a deal on labor since it will make his job easier, plus you couold make sure he doesn't screw anything up. The idler pulleys on my car looked fine. They spun as freely as the new ones, so you can probably get away with not replacing them. I threw my old ones away, but If I still had them I would've given them to you just in case yours were shot. The water pump from Kragen is probably fine. I used one from them on my Z31 a few years back. FYI, when I shopped around for O2 sensors, Kragen was more expensive. I bought Bosch O2 sensors from NAPA autoparts. They ran around $65 each.

 

i say you let the mechanic do it, and you sit there and watch him do it. take notes or whatever you do to memorize, and it's going to be money well spent, because you will learn how to do it.

 

The only thing you really need a torque wrench for is the crank bolt. It has crank specs for a few other things, but nothing major. Unless you knew someone who had done the job before, I'm agree with Wrecker. Pay the mechanic and watch him work.

 

If you know someone who has a done a timing belt job on an overhead cam motor before...he should be able to help you. This is coming from a master Z specialist mechanic that worked at ZWhizz and dealerships. He's been working on Z32's for a VERY long time. So I trust him.