Don't worry about the outer pulley. You're not lining up the pulley, you're lining up the crank gear (the one with the notch in it)
Here's what you do. It worked great for me.
Remove timing belt and tensioner pulley spring if it's already on.
Install idler pulley to correct torque (39 ft lbs, I think)
Install tensioner pulley, but just thumb-tighten the bolt (or wrench it) JUST tight enough to hold it from wobbling, but loose enough to slide the tensioner pulley back and forth. Push the tensioner pulley all the way to the left.
If you haven't already, drape the timing belt around the crank gear/pulley and using a socket wrench with a 21mm socket, rotate the crank until the notch and the "V" line up.
At this point, the belt should be in place around the crank and loose and ready to guide around the cam sprockets.
Cam Sprockets:
The "I" and "E" will not necessarily line up to 12 o' clock, but that's ok because you're going to be lining up something different.
In between the sprockets, on the metal plate, you'll see two detents in the form of a "V".
As you rotate the exhaust sprocket (on the right looking at the engine from the front of the car) slightly and the letter is almost at high noon, look on the sprocket near the right leg of the "V". You see the mark on the OUTER RIM of the sprocket, near the other stamped letter? THAT'S the mark you will line up with the right leg of the "V" detent. You're not using the letter. Use the mark!
Now, so the same for the intake cam sprocket (on the left). Look for the mark on the OUTER RIM of the sprocket near the letter. It should be close to the left leg of the "V" if the "E" is close enough to high noon. Don't worry if it's not perfectly lined up for now.
Have a 14mm wrench handy for the exhaust cam sprocket (right side) and do this:
Lift the timing belt with your left hand and pull it up as you drape it on the inside of the idler pulley and onto the exhaust cam sprocket. While you are doing this, use your right hand to make sure the sprocket stays lined up with the "V" I mentioned.
You may have to very slightly move the sprocket to get the teeth to line up with the timing belt you are holding semi-taught with your left hand. Be sure to check and make sure that the belt has not slipped a tooth down at the crank gear/pulley and that it is still lined up with the notches.
It may help to have a second person hold still the crank AND pull up very slightly on the belt to the left of the crank to keep the belt and crank from moving.
Alright, now you should have the belt draped on the inside of the idler pulley and around the exhaust cam sprocket.
As you hold with your RIGHT hand now, the belt on the sprocket (to keep it from slipping a tooth), drape the belt to the inside of the tensioner pulley and then over the intake cam sprocket as you remove your right hand from the exhaust sprocket (the belt should stay on and not slip because of the slight tension now). You may have to move slightly the intake sprocket with the 14mm wrench for the teeth to line up.
At this point, there should be only a few mm of up and down play in the belt between the sprockets at the top. If it's too loose, you need to try the intake sprocket again.
Make sure the car is NOT in gear.
Move the tensioner puller to the right enough to attach the tensioner spring and let go, but do not tighten the tensioner pulley bolt yet.
Using the socket wrench with the 21mm socket, rotate the crank as you watch the cam sprockets make two full rotations back to the point where the marks again line up with the "V" detents in between the sprockets. If it's close enough, that's fine. If it's not close, try again after taking a beer break! The car will either run fine or like hell. One tooth off makes that much difference.
Alright, almost done.
The tensioner pulley should now be in its correct position. Tighten the tensioner pulley bolt to correct torque.
If you are comfortable with your work, re-assemble everything (accessory belts, cam cover, hoses, wiring, etc. and start the car and pray it doesn't run like crap.
If you're not too confident, then at least install the belts and cam cover, etc and test run the engine. If it runs like crap, then you won't have as much to remove to try again!
Good luck!
