I had thought the same thing with my car, but it turned out to be a blew out belt, even though it looked fine. My belt was actually wobbling enough under high RPM to touch the drivers timing cover a little. I pulled off the old belt, cleaned up the pulley surfaces that run on the back of the belt with a scouring pad, and put on a gatorback, and everything is sweet now. No more squealing, but someone swears that when I put on my gatorback, it made my engine have a light hum, like a supercharger. I don't notice it myself, but hey, I don't mind that noise!