A B737-500 NOTED HOT PACK ODOR SHORTLY AFTER TAKEOFF. THEY THEN EXPERIENCED A BLEED TRIP AND; AFTER FOLLOWING FLT MAN PROCEDURES; CONTINUED TO DEST ON ONE PACK.

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ACFT HAD RECENT MAINT HISTORY OF BLEED PROBS FROM #1 ENG BLEED. ZZZ MAINT HAD DONE EXTENSIVE REPAIR AND TESTING PRIOR TO OUR FLT. AT 1000 FT ON CLBOUT; NOTICED A HOT AIR PACK OR SMOKE ODOR. FO DID AS WELL. AT 3000 FT; DURING AFTER-TKOF CHK; NOTICED L PNEUMATIC PRESSURE FLUCTUATING BTWN 20-40 PSI. ALMOST IMMEDIATELY THEREAFTER; THE 'BLEED TRIP' LIGHT ILLUMINATED. FO WAS FLYING; AND TOOK OVER THE RADIOS AS WELL. PERFORMED IRREGULAR PROC IN AFM AND THE BLEED RESET AND TRIPPED AGAIN WITHIN 2 MINS. CONTACTED DISPATCH AND MAINT BY RADIO (THIS POINT WE WERE THROUGH FL180) AND DISCUSSED THE FAILURES; HISTORY AND CURRENT CONDITION. AFTER COORD AND DISCUSSION; IT WAS AGREED THAT WE WOULD CONTINUE TO ZZZ1 AT FL250 USING THE 1 PACK OP CHKLIST. WE ALSO NOTE THAT WITH THE ENG 1 BLEED VALVE CLOSED; THERE WAS NO FURTHER HOT PACK OR SMOKE ODOR. WE CONTINUED TO ZZZ1 AT FL250 UNEVENTFULLY UNTIL DSCNT. UPON START OF DSCNT ON 1 BLEED/PACK; THE CABIN ALT STARTED TO RISE RAPIDLY ONCE THE THROTTLES WERE AT IDLE. BASED ON THE PNEUMATIC PRESSURE INDICATION; I BELIEVE THAT THE ENG 2 BLEED FAILED TO OPEN THE HIGH STAGE BLEED VALVE. WE ADDED SUFFICIENT PWR TO GET ENOUGH AIR TO BRING THE CABIN DOWN FOR LNDG. GOING THROUGH 17000 FT; WE STARTED THE APU AND USED THE APU BLEED ON PACK #1 TO ASSIST IN GETTING THE CABIN DOWN FOR LNDG WITHOUT HAVING TO ADD PWR ALL THE TIME. LANDED SAFELY AND UNEVENTFULLY.