It's hard to tell from the picture, but in the bottom picture the driven pulley off the motor (the aluminium pulley at the top) should be a 2 step FLAT pulley. Yes, SB used a V belt to drive a flat pulley, but it actually works quite well and allows the operator to move the belt back & forth for speed changes relatively easily without messing with the belt tension.
Is your pulley not flat? It's hard to see from that picture. I can grab a picture of the one on my 10K which should be the same as yours.