Thanks for the responses guys. This forum rocks. I had my mechanic take a peek and he said it looked loose and worn. Gah!
I did, however, find an old receipt in the owners manual that had the previous owners contact info, so I'm hoping the # is still good and he's cool with telling me a bit about the car.
Thanks for the offer GNUMAN, that was very cool of you. The $500 quote was for timing belt\water pump combo, which I think is about right.
FYI - I just had all the fluilds changed (coolant, oil, auto tranny, diff), air filter, and spark plugs swapped out and WOW what a noticeable difference. Car runs great. I just hope the previous owner took proper care of the car so I can save a few bucks.