Think about riding a bicycle. You can shift it to a high gear ratio (big crank gear with a small rear wheel gear), and turn the rear wheel very fast for only a few revolutions of the pedals, but you need to put out A LOT of effort to do it.
If you shift to a larger rear gear and smaller crank gear, you'll pedal quickly and not spin the rear wheel very fast. You won't be travelling very fast, but it takes almost no effort.
It's the same way with the underdrive pullies. Large pullies on the accessories with a smaller crank pully are easier for the engine to turn -- less horsepower wasted.
However, you will not be getting very efficient output from those accessories -- less power from your alternator, less power to your power steering, etc.