The install is pretty easy, and you shouldn't have any complications with the water pump. Wouldn't recommend leaving the stock alternator pulley though, it still won' run at the stock speed and may cause issues. You should have more thank enough juice with the underdrive pulley, I have 14 speakers in my stang, including two 10's and two amps, and I've never had a problem with the charging on my underdrive pulleys.
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