Nothing wrong with the water pump that I can see and the pump pulley looks the same? So wrong crank pulley?
I had no end of trouble with March about 10 years ago when I bought these pulleys. I won't go into it here but they are complete idiots.
On the water pump pulley I had to use socket head screws on the water pump as well as grind some material from the inside of the pulley in order for it to spin without catching.
Don't even aske me about the nightmares I had with the power steering pump.
I have put a ruler against the timing cover so you can see it is three inches to the pulley. The crank pulley should be 3 inches too.
Mine looks a bit off in this photo but that is just the photo.