Eh? There's no way it's a 2:1 reduction from the stock pulley. In order for that to happen, the pulley would have to be twice the diameter of the stock one. (somewhere between 7-8 inches). Most underdrive pullies are no more than 10-15% larger. Combined with an underdrive crank pulley, you might be able to get 25-30%, which is probably too much for anything but a race car.
If you run huge cams and have set your base idle higher than stock (950-1000 RPM, stock is 850 on the VR-4), a little underdrive is perfectly reasonable, but otherwise I would avoid it. The low voltage problems are typically at idle or low RPM anyhow (at anything above 2000RPM, the regulator starts limiting the output). On the other hand, if you intend to raise the rev limit above 8500 or so, underdrive is actually a *good* idea, especially on the water pump (which can start cavitating when overspun, which hurts flow and can damage the pump).
Typically, it's best to run the accessories in the same range of rotation speed that they normally operate. Underdrive pullies are best used to correct the speed on an engine that both runs and idles faster than normal. "Freeing up power" is really a secondary benefit. If you really must have lightweight pulleys for better throttle response, you're better off sticking with stock diameter.
If your goal is to "free up power" with light pullies, you're better off just ditching your A/C and fitting a less powerful alternator (The car comes with a 90A - get a 75A from a DSM for example).
Quoting chris:
ya i would replace it with a stock.. larger the pulley the alt. will not be able to keep the voltage up. Here is a example.. for every 2 times a stock pulley spins the aem will only spin once. These cars allready have voltage issues as i added more ground staps and a 4gage ground cable along with the stock wimpy one and when the head lights or windows are used i get a nice idle drop and a diming effect and my alt charges at 14.2 volts.