Does anyone know specifically what is checked when Lexus performs a 27-pt inspection?

My 07 GS350 is at 80k miles. Lexus performed a 27-pt inspection and didn't mention anything of concern.

Do they check the water pump and drive belts with the 27 pt inspection?

I don't know what is specifically included, but, drive belts should definitely be on the list - they look at them for excessive cracking, frayed or torn. The water pump is not something you can really check. If there is coolant pouring or dripping out of the weep hole or tube, and it was obviously wet with coolant, then it should have been brought up, but aside from that, nothing to check...

Fluids leaks are always checked... And since the water pump on these cars is a known leaking point, im sure any competent Lexus shop would check it.