Hi Irinfletcher,
If I visualize your system correctly, there was a child's toy made somewhat similar back in the day. It was a deep grooved wooden wheel that rolled on a string suspended between the ends of two sticks, one for each hand. The sticks were manipulated up and down to give the wheel considerable velocity and travel along the string. At speed, the wheel had considerable gyroscopic stability and could be made to do some interesting tricks.
You can make up a physical model of your system to verify that:
1. the pulley does turn and move to an equilibrium point between beam-to-rope attachment points where:
2. the rope tension is roughly the same throughout;
3. the departure angle from vertical of the rope from the pulley is the same on both sides;
4. the tension in the rope is a tangent function of the departure angle, ie. will approach infinity for large angles approaching 90 deg.;
5. for the special case where the departure angle is zero, the rope tension is 1/2 the suspended load;
5. assumptions are that the suspended load is free to translate horizontally and vertically as JStephen stated, and that the rope has sufficient slack so that the pulley is below both attachments at equilibrium and that the pulley functions as normal.