I believe it was Street Wolf that uses a pulley puller like that and said it works fine. He would be the better voice of expertise on that as I was told to use one of the pulley pullers from the vendors, but who knows, he seems to have been successful using a puller like that.

As for the smaller pulley and what mods you need, if you dont have a down pipe with the ubend delete, I would most certainly make that one of the things I did at a bare minimum.