Try some silicon spray on the belt as well. The action of the belt turning in the pulleys makes a slight noise from cold ime.
I have two new plastic pulleys here of you need one. Visit www.ropiecoils.com for 15% off
or better still, pm me if you need one. 
Will keep that in mind good sir rope man

Thought I had mentioned this but doesn't look like I did, month or so ago I ran the engine from cold had been standing 2 days there about's, let it run for about 15 seconds and it was silent. Least it's not cambelt related.
I did stray some silicon spray on the side of the tensioner with a cloth away from belt and that and it improved the noise to the point it was barely noticeable, But that wore off after a week or so...
It does make the sound more with the A/C on from cold more strain on the belt maybe with that on also, Still makes the sound with the A/C off mind..
Thought it was not a good idea to spray anything on the belt ropeman ?
