you can look at my thread elsewhere here, But I ended changing the crank pulley and moving my whole PS pump and, AND the whole alternator and brackets 1/2 forward and finding a factory water pump pulley to move that groove 1/2 inch forward so that I could line everything up and use 2 belts on the alternator, crank and immovable compressor. It all seems to work fine now, but like Trailbeast said - not for Joe Average bolt on mechanic. Like I said before, I just hope that it all works for a long time after all this.
Trailbeast - did your set up come with an electric water shut off valve?