Did you replace the belt tensionier? Try this test. Start the car, open the hood, and pour a small amount of water on the belt to see if the noise changes or stops. Make sure to wear old clothes and have eye protection because there is a good chance the water will spray back at you.
Let me know what you find.
PS: I never heard of a cam sensor causing this sound.
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Tuesday, November 17th, 2009 AT 5:06 PM