Nissan Repair: Nissan Maxima, drive pulley, nissan maxima

Question
Burning smell from drive belt. Removed the belt for the alternator and AC unit and smell went away. There is another belt for the power steering. I noticed that the engine pulley doesn't rotate completely concentrically, with both belts on, or with just the alt/ac belt on. Could this small amount of eccentricity be causing the belt to rub along the edges? Do you think there is a problem with engine crank that is connected to the engine drive pulley?

Answer
Yes and no.
A belt running perfectly concentric would be the best for any situation, however, more often than not, there are some that are not set as concentric as they should be.
I would check for a loose water pump pulley, idler arm pulley or for a bad alternator bearing.