Sorry to hear about your Vette eating belts! At $50 each, that's an expensive diet!
I recently lost one to the power steering pulley prior to the big project. The easiest ones to adjust are the power steering pump pulley, the alternator pulley and the water pump pulley.
The first step is to find the gross offender. I used a metal straightedge from one pulley to the next. Lay the edge along two points of the edge of one pulley so you have a good flat reference. Now slide that edge toward the nearest pulley. Don't rest it on both or you won't really see much. You'll want it to "float" over the other one to see how close it is. Think of two stacks of quarters in front of you. One stack has four quarters, the other has three. Hold a business card edge on the tall stack and see how it leaves a gap over the short stack... That was how I initially lined them up. You can also "eyeball" the belt from one pulley to the next as the engine runs. Look down the edge of the belt like a rifle site (wear goggles, just in case) and look for any deflection in how the belt runs. I actually saw mine run a slight angle from the water pump pulley to the a.i.r. pump pulley. Just do a section from one pulley to the next. That should give you another good indication.
The power steeering pump pulley simply slides on, so you have a decent range of movement. To adjust the power steering pump pulley, you just need to stop by the local parts store and pick up a GM pulley puller and installer tool (about $25-30). The puller has a collar that goes around the pulley center (about a 1" collar); spin the bolt on the puller until it makes contact and turn it with a wrench. You can watch how far it moves as you do it. Pretty easy!
The water pump pulley can be shimmed out (toward the radiator) by putting washers between the water pump pulley mounting ring and the actual pulley. I used silicone RTV to hold them in place. easiest way to remove the water pump pulley (two minutes!) is to loosen the four bolts while the belt is on; it will hold the pulley easily as you remove the four bolts. Once they are out, put a breaker bar on the belt tensioner and slip the belt off of the water pump pulley. It works best to put the belt back on if you do the alternator pulley last.
The alternator pulley is a little more involved: you'll need an allen wrench in the center shaft and a big wrench on the nut. Remove the nut and the the pulley should come right off.
Hopefully this helps! For me, the key pulleys were the water pump and the power steering pump. All is well now. Our local Autozone has a "free rental" program for pulley pullers. You give them a $40 hold on your credit card and they release it when you bring the kit back. I did that the first time (2 years ago), but went ahead and bought my own kit from O'Reilly's for $30.
Good luck with your Vette!!
Trav
Now, eating belts
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