Ok we just started up this 350 that we rebuilt. After running it for awhile i just happened to touch the alternator pulley and it was so hot that it burned my hand. Nothing else on the alternator was hot at all, just the pulley, it was actualy sizzling when water hit it. I have no idea what it could be.

Remove it and inspect the bearing/bushing. Also, make sure the pulley is on right and not rubbing.

When you tension the belt, don't over tighten. There should be about 1/4 of push/pull play in the belt.

Its pretty loose right now, ill take it out and inspect the bearing.

also be sure the pulley is in line with the other pulleys...not in front of or behind it. That will cause the belt to rub...and creat lots of heat!! Maybe you put the washer on the wrong side of the bracket or something?