Belts on these are 100000 miles or 96 months.

Stretchy belts can be re-used, but 'officially' you replace them if removed, as 'officially' you cut them off to remove them, so require replacement. They're quite expensive to replace so your quote doesn't seem bad.

2.6hrs for cam belt r & i.

3.5hrs for water pump if AC

The water pumps can fail, and would be advisable to be replaced 'while they're doing it' as sod's law says it'll start leaking in a few months time.