Do the pressure test first. Its cheap. But, you are going to put a very small amount of pressure on the system.
When a cylinder fires, there are thousands of pounds of pressure developed. A head gasket leak that passes the pressure test might still leak back the other way when the cylinder fires.
At this point, if the pressure test passes, you might want to think about the water pump.
Especially if it is still doing it when you rev it up.
BTW, the two types of blades are for the most part neither one bad. What is important is the shape of the chamber it fits in.
The one that gave me fits on the firebird, had the "good" one with the cone shaped fins, and would not pump because it did not fill the chamber.
We replaced it with the stamped sheet metal type, and it worked great. I admit the heavier the blade, the better I like them, but they have to be the right shape.