I did some more research. I think I'm going with a Serpentine, but going to use a Trickflow AC Delete plate which allows me to mount a ford 5.0 tensioner where the AC would normally be.
I agree, a Serpentine setup without a tensioner doesn't seem to be a great idea.
Slade & The KaStang
200 CI, T5, Comp Cam 260H ,Dual Exhaust Headers, OZ 250/2V head, Holley 390 4V, DS2 Ignition w/ MSD Digital 6+, GT 5 lug disc brakes, 8" rear end, V-8 Steering
Current Project: '01 Explorer 5.0, EFI with EEC-V
"It's not how fast you go...but how go you fast"