Why is this happening?!!Please help.

i got a carter 5-7 psi pump off craigslist for 40 bucks, never had fuel through it, and a holley fuel regulator for 20 from the same guy. i think 5-7 psi of fuel pressure may be a bit much for a 1 barrel carb, im not sure, but auto zone sells nice little electric pumps for around 35 bucks. new stock pumps are cheap, and to be honest, i have gotten bad ones right out of the box. you can always pull the line off the tank and the inlet off the pump and plug it, rig up some compressed air ,and pressurize the fuel line to find any pinholes and also to blow the line out, and go from there. you can also pressurize the tank itself to dislodge any obstructions going to the fuel pump.
Carefull trying to pressurize a fuel tank. You can split a seam or crack the brass float doing that. On your engine noise.....take off the fan belt and fire the engine up to see if you still have the noise. If you do, it's not the water pump or alternator!