Someone else just asked this not too long ago and I just did the timing belt on my 04' V8 with 120k on the odometer...
I bought the Timing Belt Kit at AutoZone, had a Dayco belt, water pump, gaskets and all the components you need. I bought some spark plugs (figured I was already getting sweaty), antifreeze and a new FailSafe Thermostat. Total parts cost around $300...
Make sure you have a 22mm socket for the harmonic balancer bolt and a way to hold the balancer in place while you unscrew the bolt. I used a large chain wrench with a thick rubber strap underneath to protect the pulley. Also, a balancer puller (a steering wheel puller would work too if large enough) may be handy.
A cheap set of disposable ear plugs will help with the tranny lines though it may be a good time to flush that as well...
Good luck