No, I even tried running briefly with the fan belts and covers removed, just to eliminate rubbing, fan belts, water pump, steering pump, and alternator.
I also checked the distributor shaft just in case, but it seems free, and I gave it a few drops of oil from the top.
The noise is slightly rythmical, at what I guess is belt speed, rather than regular like a single shaft or pulley.
I suppose I could just buy another belt, or try turning it round, or go the whole hog and get new sprockets as well. Of course I only notice it because I have an electric fan. With the original fan set up all noises would be drowned in that Volvo whoosh.
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