You're right on about the belt noise. I used the stethoscope on WP, idler, tensioner, alternator, AC compressor and tensioner, and all running smooth like a cat puzzing. I thought the new WP rubber seal, but it was deep inside and in coolant so how could it sang so loud. I almost gave up hoping for a miracle that it will disappear soon. I just stood there staring at the parts, then I remember the famous firecracker noise generated by the alternator V belt on my '74 Citroen SM when the pulley was not perfectly aligned -- the belt tried to climb up the pulley and then snap back down making a loud firecracker. I used a long straight edge checking from the crank pulley face to WP, thinking the new WP pulley was a little too forward causing the belt to climb or rub, but it was perfectly level. Then from crank pulley to tensioner. Bingo! The belt was about 2mm hung over the tensioner pulley edge! For some reasons, the tensioner pulley shaft is not square to the engine. My first thought was might be the bearing had too much play and cocked under the belt tension, but it was perfect with only tiny clearance as all ball bearings. I removed the tensioner and cleaned up the OFH mounting surface really good, but this still didn't fix the issue (I swapped out the stock hydraulic for a good working mechanical tensioner I saved from my dead 2000 323iT). Could the tensioner pivot bushing worn down and cocked the pulley? I studied it carefully and didn't see any indication of a worn bushing -- the whole rotating thing was parallel with the mounting bracket on all sides. I ran out of ideas, and so I had to shim the mounting bracket for now and will try with a new mechanical tensioner later. I cut the shims out of a new grease aluminum cap. This worked and the engine was running like a cat puzzing as in the 2nd video sound clip.
I think people should use a straight edge and check your belt: rest the straight edge on the crank pulley and sweep it around to WP, tensioner pulley, idle, alternator, and steering pump. The belt should be 2mm below the straight to all component. If not this cause the belt edge to rub against the pulley and it sounds like a cricket or an engine about to explode.