Yes .....
All pulleys (incl. PS/Alt etc) will be running +15% faster on average (178/155)

My rough numbers measured from a graphic I have are telling me the water pump crank setup is
Water pump 120mm
Crank 155mm
Separation centre to centre = 155mm (approx)

Now for the 178mm case...
adding 23mm/2=11.5mm to the crank would mean taking 11.5mm from the water pump = ~10% smaller + 15% increase from above = 10+15=25% faster overall
.....unless I'm missing something.

b22b