Looks basically OK in the photo. If it doesn't touch the head, no problem, as long as the output stud and terminals are not in danger of shorting out. Hard to tell, but looks like the belt isn't quite perpendicular to the crankshaft axis, as if the alternator should move forward some. You can easily do that with spacers. Search for photos here. You can get spacers even at Ace. V-belt pulleys can be up to 1/8" off alignment and still work fine, maybe even more on a long span like yours.
