Water pump bypass and stock water pump ?

I have built a hi compression 306 that I want to put an electric water pump on but i want to keep the A/C and i don't want to run the belt just around the outside of the pulleys

This is my issue right now money is tight because while the engine is out I had the car painted. So in order to get the car back on the road I have to cut corner right now because I still need to get fuel system, ignition system, and tires it become a what I need not what I wont kinda thing you know that is.

I have been looking at the geometry on the March's Water pump Bypass and it looks like you could use this pulley setup and still run a stock water pump.
If you look on march's website at the drawing of the water pump bypass, the idler pulley sits just alitte bit higher that the water pump.
http://www.marchperf.com/instruction...structions.pdf
If you were to route the belt around like stock it looks like it might work.

I need ideas guys tell me what do you think do you think it would work
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I have been studying the diagram again, now I'm not sure if it will work.
If I was to use a stock water pump and route the belt like normal it looks like the water pump pulley would hit the idler pulley on the march setup or the belts would hit as they cross.
I still might try it but i need ideas if you guys think this would work or not