I don't think all that is needed. My friend has a 41 Mercury with air conditioning and an alternator running one wide V belt. It does the job well without added complication of idlers or extra belts.
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At one time I painted the water pump pulleys pink with red tips. Caused quite a few comments. I was single at the time.
I had a serpentine belt system on my flathead. It drove the blower as well but always started to slip at about 3500 revs. Putting more and more tension on the belt only resulted in a sqeaking bearing of the LH waterpump.When the clutch finally started to slip as well, it was time for a re-design. I made pulleys for a 2" toothed belt and fitted a 11" clutch - no problems now.