Let's walk through it: You say that the waterpump and crank line up pretty well. Does that mean they line up or not? The alignment should be prefect. They didn't do a smashing job at engineering the f/g/f, but they did a fair job at aligning the belts. If this part of the alignment isn't perfect, the issue lies in the different water pump lenghts or a crank pulley issue.

I sneaked down to the car and took a peek to see if I could remember what went wrong. A long time--probally 25 to 27 years--ago, I put the accessories back on, and they had an alignment problem. If I recall, they were back too far. I cannot remember what I did wrong, but I reassembled something wrong. It wasn't I left something out; instead, I did something backwards.

My computer loads slow. The image that Vikki posted is loading. I'll post, take a look, and come back if I can recall what went wrong by looking at the image.