and replace the rubber collars that mate to the backside of the plates.
One clarification...I think. Someone correct me if I'm wrong. He's asking about a 326...so it's a 67 I assume?
So the 326 most likely has the 8 bolt water pump, and does not have the 2 sleeves that first came out behind the 11 bolt water pump of many 1969 motors...
Indeed if this is an 11 bolt pump, these sleeves are critical and should certainly be replaced as the rubber fails with age.
I just don't want him confused when he's looking for parts that don't exist on his car...