Ok, I wasnt able to tackle this problem till this last weekend and decided I'd post what the results were.
If you read the other posts you know I was thinking that the nose was coming from either the water pump or alternator. I had already checked all else.
So I took the belts off to verify and sure enough no more noise when I rev'd the heck out of the engine so I now knew I was right. I figured the easiest thing would be to swap out the alternator since I had my Kragen lifetime warranty. Well I hook up the new alernator as a buddy shows up to see what I'm up to. Get the belt nice and tight, start her up, rev it up and there's the squeeling sound again. I'm pissed!
Me buddy says to me it sounds like a loose belt, I'm like no way. He feels is says I should try and tighten in some more. So I figure what the hell. I yank on the thing as hard as I can and tighten it back down. There is no play at all any more. Start it up and sure enough the noise is gone. I take it on the freeway hit 3000 rpm (65mpr) no noise. Take it to 100, no noise. I cant believe what an idiot I am.
I dont know if the belt having those notches on the inside is part of the problem, like air getting trapped in there, but I have never had to tighten a belt this tight. And this is the first time I have had this problem.
Oh well, I figure a few of you might get a laugh out of my embarasing story.
Thanks again for all of you that took the time to give suggestions.

Try running it under water, like your neighbors pool..

Replace the belt. If they've been run "slipping" for a while they get glazed and they never seem to work right after that. A fresh belt will likely fix the problem without having to tighten it like a guitar string.

<font face="Arial,Verdana" size="2">Originally posted by Damon:
Replace the belt. If they've been run "slipping" for a while they get glazed and they never seem to work right after that. A fresh belt will likely fix the problem without having to tighten it like a guitar string.</font>

Ditto, you'll knock the bearing out of the alternator and be back to square one with the belt too tight. I've had more problems with the cogged belts than the solid 'V' groove belts. (like flying off at rpm, breaking, glazing and slipping, etc., but never noise)

My 406 wouldn't keep a toothed belt on for ANYONE. It would throw them off like there was no tomorrow. I switched to a solid v-belt and it almost stopped throwing the belt. I went to a March serpentine setup and it cured all belt squeals and tossing.