One common problem for Cleveland users is how to remove the PS pump and use one belt for the alternator. On Clevelands with power steering, the water pump is run by the same belt as the PS pump, while the alternator is run off of the crank pulley alone. With the stock pulleys you can not run the waterpump and the alternator with one belt.
Some forum members are using late 5.0 1980s serpentine pulleys to complete the one-belt system. These pulleys will also allow one belt to run the PS if you just wanna convert to a modern-looking belt system.
The thread below has the details.
http://www.network54.com/Forum/thread?forumid=119419&messageid=1124849299
For more such threads, just search the main forum for "serpentine" as well as the mispelled "surpentine".