Belt problems with a 1970

You know, thats one of the questions I've been meaning to ask around here and just never do. Will a 5.0 serpentine setup work on a 351w ? I've got a spare serpentine drive setup so when that 351w gets over here I'm going to try and bolt it all up. If anyone wants to save me the time I'd appreciate it.
 
I just did all this with the 331 I planted between the fenders of the 77 Comet I recently bought. I made my own alternator bracket from aluminum, then used a set of 351W pulleys, a 3 groove crank pulley (wish I could find a smaller single groove pulley to replace that monstrousity with:D ) the pump pulley is a 6" single groove. The only mod I had to make was to place a thick washer behind the alternator pulley to line it up with the other two. The waterpump and timing cover are 80's Crown Vic parts, the alternator bracket bolts on using the Vic pump stud/bolts. Later this week I'll post some pics of it on my Photobucket account.
 
Waterpump might need to be changed depending on the rotation. For my 428 there isn't much hope for robbing any doner vehicle for a serpentine setup... though I would love to have one. Might as well lathe my own but AL is really expensive.
Kevin