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The Harmonic Balancer (aka Crank Pulley) may be the cause of the "Screeeech" as well as the occasionally dead battery.
The pulley has an inner part that is keyed to (and rotates with) the crankshaft. It also has an outer part with V-grooves to drive the accessory belts.
The two parts are rubber-bonded together. Over time this rubber bond loses its grip, which can (intermittantly) cause the outer part to slip, resulting in
1) Squealing noises
2) Failure to proprly drive accessories (including the Alternator, which may therefore fail to keep the battery charged).
It can also fail to drive the water pump adequately, leading to overheating, or the two parts may finally separate completely, with belts flying who knows where.
Check the 700/900FAQ for more info, how to check, replace, etc.
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Bruce Young '93 940-NA (current) 240s (one V8) 140s 122s since '63.
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