Ok.. so I just went out to try and find out why my belt sets back so far as it comes across the water pump and up onto the camshaft gear.
As you can see, the belt runs about a quarter of an inch back off of the water pump pulley than where I think it should be running. So I removed the tensioner roller and saw this.

Does it look like I'm missing something. I mean all I see is a stud with a nut or something all the way against the block. Am I supposed to have something else there?
Also, just to be sure, I'm supposed to install the roller like this:
And not like this:
Also, is there any way I switched the timing belt tensioner with the balance shaft tensioner?