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Hey Will,
Sorry to hear about your trouble. The comment about the alternator belt bouncing troubles me. Is the pulley or shaft of the alternator is bent? Or worn bushings? If the alternator pulley doesn't spin true, it could put excessive load on the water pump. If you mean the belt flutters (sort of vibrates in the middle), thats not a big deal. It could mean it needs a bit more tension, but not always. Does your water pump share the belt with the crank and the power steering? The alternator is then driven from the second groove on the water pump? Thats the configuration on my '92 740. Its possible to overdo the tension of the p/s belt. I try to set it just firm enough so it doesn't make noise under load. However, I think after replacing one pump, you'd be rather judicious setting the tension on the second. My guess is the pumps are lousy.
I have no experience with the Bosch water pumps. I did have trouble with rebuilt Bosch alternators for an old Cadillac, but I don't think Bosch actually rebuilt those. I think it was farmed out to a third party company. Perhaps thats the case with those water pumps. Not sure. I know how frustrating bad parts can be.
The OE Volvo and Hepu pumps are both good choices. I would go with the Hepu since its more reasonable, and I've heard nothing but good things about them here.
Regards, Jon 'Uncle Olaf'
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