Wearing ring?
The wearing ring is easy, but there are some ways to cause potential damage to your pump housing. If you want to do this yourself, it's pretty easy. After you pop off the reverse gate and the 4 nuts that hold the pump on, remove the pump. You'll have to wiggle it free alot of times, they get stuck from the silicone sealant.
But when you get the pump off, you'll have to remove the impellor to get to it. When you remove the cone at the tip of the impellor, you'll have alot of oil pour out. Catch this oil in a cup or something. If it has a yellowish color to it, that means your seals are bad and water is getting into the bearings of your impellor. It the oil is clean, then you may be able to use the same bearings. Although, when you go this far into the pump, it's a good idea to go ahead and change them. You'll also need a special tool to take off the impellor.
Once the impellor is off, you just take a small saw ( I used a broken hacksaw blade with tape wrapped around it) and cut the impellor wear ring in two spots. LIke 12 oclock and 4 oclock. Then, gently pry it out with a screwdriver. When putting the new one in, just lay the pump on a flat surface, put some soapy water on the ring, lay it on top and gently tap it in with a 2X4 and a hammer.
It sounds like a lot of work, but it really isn't that bad. The impellor removal tool cost about $12 and should be able to get it from a local Seadoo distributer in your local area!...........Good luck!