Having just replaced the belt, pulleys and such - don't neglect this. I found out the hard way that when a pulley goes, it goes quickly. Thankfully close to home, and not (as I was the week before) five hundred miles from home on a remote gravel road at 9500'.
On the plus side, it's not a difficult job, and can be done fairly cheap. Instead of buying all new parts I removed the old NTN bearings from each pulley (all three are the same - the one on the tensioner and the two idlers) and replaced them with SKF bearings I found locally. There are plenty of writeups on the V8 serp belt procedure out there, but the one thing I did differently revolves around getting the 10mm allen bolt (holding the tensioner) to release. I found it fairly easy to place an allen socket into the head of the bolt, then grab the socket with a plumber's pipe wrench.
HTH, and sorry for jumping on the zombie thread
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