I have a 1981 300D. A few weeks ago the charge indicator light came on, so I replaced the voltage regulator (thanks for the plastic tie), and the light went off. Two weeks later I was driving with the windows down, and heard an unfamiliar metallic noise coming from the engine. The sound is coming from the front - near the alternator and water pump area. Per your advice I poured water over the belts and...the noise stopped. I sighed in relief, until I noticed that the belt had slipped on the alternator, which had stopped spinning.
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