This idea definitely works. I did it on my 6.0 swap in my '93. I had to change a couple of the smaller idler pulleys for the belt to clear itself on the water pump. I did it as described and it fit like a glove. It also didn't affect my hoses as I've heard some aftermarket brackets do. It did require a small amount of tweaking of the round bar braces to get the belt alignment just right. Here's a pic of it in place.
'93 Chevy 1500 4X4 ECLB with a '99 Silverado LQ4 6.0 and '99 Escalade 4L60E. SOLD IT!!
New toy: 2001 2500 HD 4X4 Extended Cab Long Bed
John