With the motor running spay some sort of lubricant on the belt and see if it goes away. Do not use belt dressing that stuff sucks, I found WD-40 to work just fine.
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Jonce, I built a TBI 350 in a 4x4 S-10. Worked out REALLY well. If you have any questions, or want to see pics, let me know. Since you have a two wheel drive, and it's a 4.3, and TBI already, it should literally be a 27 beer job..... Pm me, and i'll fill ya in.
Had the same issue on a 94 Sonama and it's a cheap fix.It is in fact the Throttle Body gasket that is leaking.Does it sound like the Alternator packing in?High pitch sound.