A Question for the Experts....
Is the belt tight?
You have to really eyeball the belt alignment between the water pump and alt. In my experience, you can't use the single belt setup with the dual belt pulley. I converted my car from PS and AC to manual, no ac and I had to do some finagling with spacers and whatnot to get my alt in the right spot.
As far as the mph goes, are you sure you're staying in it all the way to the end of the track (second stripe?) . The first line is just the start of the mph trap.