abodyjoe,
This is starting to explain things. For years, several FABO people have claimed/wondered if moving the water too fast thru the engine could actually reduce the cooling, and some claimed practical experience to back that up. It makes no sense from an engineering standpoint (my MS thesis was in Heat Transfer), but your info starts to explain what they observed. They probably found that a small pulley, 8-bladed pump combination caused cooling problems, and either slowed the pump (larger pulley) or crippled the pump (6 blade impellor or restrictor washer) and found that fixed the problem. Perhaps the problem was not due to too much water flow, but rather too little flow from a cavitating pump. My main question is when it might cavitate since the engine runs through a wide range of rpm's and most people notice cooling problems near idle (maybe after having run at high rpm?).
I recall putting the 8-blade aluminum "AC" pump in my 65 Dart, and my after-market aluminum pully has similar diameter as my factory pulley, except shorter depth. My factory pulley looks like your non-AC pulley, but w/ straight sides and about the same depth. I haven't driven enough to know if an over-heating problem. If so, I will try a 6-blade water pump.
As a side-note, I wonder why the "AC" pulley in your photo has a single groove. I thought 70-72(+?) AC cars used 2 belts for the compressor, in the grooves closest to the engine, shared w/ the water pump.