Don't attach too much importance to my comments. I'm not expert, I'm just posting my opinions based on info in the thread for you to evaluate and see if anything helps.
And here's another observation or three. Firstly, you already have a 'cogged belt' as suggested upthread. Secondly, I don't think your pulleys are matched. Your cogged belt nestles deeply into the alternator and crank pulleys, but is sitting proud on the water pump pulley. I think this is the root of your problem - the water pump pulley is for a narrower belt than you are using but a narrower belt would 'bottom out' in the other pulleys so I think your wter pump pulley needs changing to match the others.
Finally I'm impressed with the 'new engine' photo. Lots of engine rebuilders spray absolutely everything with paint including the V belts, alternator, rubber hoses and plastic bits like the filler caps.