Glad you got your belt sorted out man! It's really frustrating with stuff like that, cause it's such a PITA to get too...but it's crappy to have noise coming from the belt that makes everything work right. Oh well you got it!

 

Defective new timing belt? NOT common.

 

Definitely not a common occurance at all but it was definitely the belt. We tried twice to re-seat it and made sure the tension was dead on. Both times it would rub on every rotation. There was a section about 4 inches long on the belt that was a little wider and would rub as it came around. You can actually see the spot on the inside of the belt.
Either way, all is fixed now and I'm back to boosting again! <----happiness.