Went to install mine today. Which way does the spacer ring face? Machined side in or out? Both look righ id just like to be sure
The recessed pocket is for the sheave washer.
The ring goes on after the pulley. It's used to make up the difference in depth from using a smaller diameter bearing.

This face goes up against the bearing after the pulley is mounted on the supercharger.

This recessed groove is where the sheave washer sits in.

What is should look like before you put the bolt and sheave washer on.