Help!!!

hey guys hows it going? I have a 97 lincoln continental 4.6 32 valve DOHC V8. 165,xxx. Waterpump was replaced at 150,xxx. serp belt is making a racket. defintly sounds metal on metal. Pull the belt and check for loose spindle? Any common things go? i.e. tensioners, power steering pump, a/c. started out as a quiet whine that went away after a minute. started up this morning and started making a real loud, awful racket. drove 3 mile loop and it is still knocking. almost sounds like i have no oil and my rods are knocking. (checked levels and listened for it and no its not that, no oil. lol) sounds like its coming from the front half, meaning alternator forward. i know the power steering pump, a/c, and tensioner is in the front. crap shoot, which one would you guys replace first? wont drive it till i figure this out. I know that dam 4.6 is an expensive motor to fix and if i throw that belt Its gonna cause problems. Any suggestions would be helpful, thank you.

Ian
 
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