1994 Gen 3 Mr2 turbo Timing belt and water pump dramas

Hi guys i am from cronulla area and have a project gen 3 1994 mr2 turbo, it has loads done to it, 3" exhaust bilstien coilovers, turbo smart boost management, drilled and slotted brakes, stinger computer it had areal forged pistons and ran a ton of boost with the TDO5 greddy turbo and intercooler but ended up cracking a cylinder wall. Apparently the gen 3 block has thinner cylinder walls to allow better cooling. 
 
Financially i couldnt afford to get it fixed and i didnt know it was the block cracked until i stripped it down and saw it was not the head gasket, it was the block. rather then sell the car for parts i jumped straight in and removed the engine
 
I purchased a gen 2 block on ebay for 500 bucks, the forged pistons and crank would not fit so i just installed the gen 2 block with the stock pistons as it was with everything else gen 3. i had to run pipes in a different way for the oil cooler and iron out a couple things that were different but i got the whole thing together and back up in the car. it was a mission to say the least.
 
I went away for over a year and have returned and had pretty much forgotten where all of my parts go, i had to install the turbo, dizzy, coil pretty much everything other than the engine, gearbox and intake manifold, which i had installed before i left.
 
Now, i have everything together and the car starts and runs. Here is my problem.
 
First problem, when i filled the engine up with water it ran streaming out of a hole in the side of the water pump i understand that means the water pump is almost screwed? or is screwed. I plugged it up for now as a i want to get the car driving to iron out any other issues.
 
Second and biggest problem, when i start and run the car a belt was screeching i thought it would fix itself after it runs for a while but it turns out it was the timing belt running off into the block! the timing belt is now half the thickness and the side of the engine of full of belt fibres. I was pretty devo because that timing belt and water pump are hard to reach while the engine is in there.
 
This is the first contact i have made with anyone who knows anything about the mr2 so anything you know about what i have done so far and what to do next would be greatly appreciated
 
Mike

Your comment about the hole in the water pump concerns me.  If it's the opening I'm visualising then yes, your pump has gone to meet its maker and SHOULD NOT BE USED.  Cooling issues are the bane of an MR2's existence, and having a non-pumping pump is the best way to trash what ever you have left.
 
Your timing belt issue could be related.  If the pump is worn, then its pulley may be running off centre, this could cause the belt to slip down the pulley and up against the block.  I'm going to assume that you matched up the timing belts and have used the correct one, so look to the pulleys for an answer.

Just to update you, i have stripped it down the water pump was rooted and the oil pump pulley was a bit loose on the shaft.
 
all the parts should be here in a couple day except for the oil pump pulley
 
Does anyone have a Gen 2 oil pump pulley or know where i can find one? 
 
toyota is telling me three weeks to order one in and i dont have that much time

Have you got the 'timing belt guide' installed on the crank?  Although I guess this would only prevent outward movement.

I have pics to upload where should i do it?