So, yesterday after lunch on my way back to the office.....I was stopped at the red light on the other side of the church (next street west) from the pic below. At green, I slowly proceeded to "leave the line". Then I heard the THUMP.

Thank goodness I didn't have the radio cranked up!!!!
I look down at the gauge cluster --- the battery light is on and the brake light (???) is on. Glance at the temperature gauge and notice it is moving up but still under 100F. I turn right at the next street and turn the key off.
Opening the hood and looking in..........already suspecting what the issue is..........I see the following "wad of belt". This is NOT how a serpentine belt on a 603 is suppose to look.
So, then, all the questions start coming up:
- Is there one available in the Memphis area?
- What caused the belt to fail?
- How long will it take to get towed?
- Who do I call first?
- Where should I tow it to?
- Which towing company?
Of course, once I saw I had a broken serpentine belt, my world slowed down. I wasn't in a hurry and had plenty of time to think about the next course of action. Needing a vehicle to drive and knowing that my 2000 Dodge diesel Dakota was at home, I decided towing the 87 Champagne home would be the best course of action. Then I'd have access to tools and could fix the issue; fearing that type of "castrophe failure" had occurred. While waiting on the rollback, I walked (3 minutes?) to AutoZoo and acquired a replacement serpentine belt. YEAH! My string of good luck has started again!
The AC on the Dakota isn't working.....so maybe I will tackle that FIRST when I get home. Then I'd have a vechicle with AC to drive today. I didn't get the AC fixed on the Dakota last night, so decided to punt and go to Target for a few items. Returned home about 9:30 and after eating a quick bite, decided I should look at the 87 Champagne.
I removed the belt remains:
and then started checking the various items:
AC compressor pulley spins freely
Power steering pump spins freely
Idler spins freely.
So, I start thinking --- It must be the alternator.

And
Alternator spins freely.
Hmmm......
Install the new belt --- belt routing starting at the radiator fan and going clockwise is: radiator fan, power steering, AC compressor, bottom of crank, then up between the crank and the radiator fan to the idler, then to the alternator and back to the radiator fan where you started.
Time to test it --- start the engine and all is well. Went to bed last night thinking about how comfortable I would be today driving in my air conditioned 87 Champagne.
REMINDER to all 603 owners: Replace the Serpentine Belt if it is cracked. If it is frayed on one side, figure out why and fix it. This belt was old and cracked when I bought the car in January. I actually had the belt on my to do list.