I only have a crank/waterpump/and alternator to spin. Same boat as you, and I'm guessing that waterpump you have is a reverse flow one?
The one on my motor was... I was kinda stumped on how to run the pulleys.
I tried to make a picture of what I did. I dont have any actual pics of it.
I made my own alternator bracket... kinda doubt the setup would work with underdrive pulleys though. The crank and waterpump pulleys were really close on my motor so it worked fine.
My computer drawing skills arent perfect... lol
Anyway, the alternator sits about inline with the passenger side valve cover just to give you an idea. The belt only makes contact with like 1/4 of the pulley, but I've had no problems with slipping or anything. I have a serpentine belt, and no 'tensioner' per say. The alternator takes care of that.... it has one of those rods with threads on each end. Standard one side and reverse the other. To tighten the belt, just tighten the rod. I got the idea from a friend who used a shock rod (like to open a trunk) but I couldnt find one the right length/force lying around.