I've got a bid on one at the moment, should know in a couple of days how that goes. Have used a cog belt drive for the prop reduction on my homebuilt plane when I was still into that stuff. 3 points to keep in mind if you go this route, pulleys have to in alignment, and all pulleys have to be true to each other. The crank and water pump should be ok, it will be the alt and brackets that can be cocked off and pulled out of whack especially when the belt is tighted. If out of whack the belt just walks off the pulleys and gets cut on the pulley edge. The third point is don't over tighten the belt, just take out the slack. The belt will tighten more as the pulleys heat up and expand. Here's some pictures of the home brew belt reduction I had on the plane.