I hear squeaking near the front of my M103, usually when the engine is warm, and usually when its idling. I can't tell exactly where its coming from, but its in the general vicinity of the water pump. I changed it semi recently and was introduced to the tensioner. I've managed to get some oil to the tensioner pulley, but there's not much of a pattern of noticed squeaking so I couldn't really tell if it helped. I pulled the belt off and checked all the pulleys in that area and they all seemed okay, but the engine was cold.

Could it be the water pump? I've never heard one squeak, is that possible?

Could it be the tensioner? If it is does it indicate a possibility of seizing and leaving me stranded? Can I change just the tensioner pulley and not the whole$ thing? Why couldn't it fail when the water pump was changed?

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5 speed '91 190E 2.6 320,000 mi. (new car, fast, smooth as silk six, couldn't find any more Peugeots)
5 speed '85 Peugeot 505 2.5l Turbo Diesel 266,000 mi. (old car, fast for a diesel, had 2 others)
5 speed '01 Jetta V6 (new wifes car, pretty quick)
5 speed '85 Peugeot 505 2.2l Turbo Gas 197,000 mi. (wifes car, faster, sadly gone just short of 200k )
5 speed '83 Yamaha 750 Maxim 14,000 mi. (fastest)
0 speed 4' x 8' 1800 lb Harbor Freight utility trailer (only as fast as what's pulling it)