Puzzling Discovery - AC Noise

All,
 
I'm trying to determine the source of a puzzling noise coming from under the hood of my D2.
 
Here's the scenario and the background info: 2002 D2 with 33k miles on it (non-ACE).  Just replaced the serpentine belt, it was so old and cracked that two rows of it let go shredding about halfway around the length of the belt.  I knew this had to be replaced and had ordered a replacement from RoversNorth, but it let go before I had a chance to replace it.  I did not order idler pulleys and a tensioner because I hoped they were still ok.
 
Since replacing it I have the following issues:
 
1) Belt squeels a bit when I accelerate, so I figure I'm not going to get away w/o replacing the two idler pulleys and the tensioner.  Old belt did not squeel, it just got a bit noisy (signaling time for a new one), and finally part of it just let go.
 
2) Now here's what has me puzzled:  I get a knocking sound that seems to be coming from the AC Compressor.  I can feel it when I put my hand on the compressor, but not on other accessories.  The noise pretty much disappears when the AC clutch is engaged.  The noise is the worst when things are cold and gradually goes away, but IT IS LOUD when the engine is cold.  Sounds like a TUNK.....Tunk......Tunk...............TUNK......Tunk.......tunk (yeah I know, real scientific).
 
Any Thoughts greatly appreciated.
 
JeffQ

Shout and lets talk about your a/c noise.
303-862-7680
Colorado before 8 pm

Thats what my alternator sounded like when it went bad.
Your sure that the new belt is routed correctly? It is pretty easy to get it wrong.

Thanks for the replies and thanks for the phone conversation Mike.  I'll let you know what I find when I have chance to look at the issue again.
 
I followed a routing diagram that i found in an old post on the forum.  But I'm planning on double checking it.
 
JeffQ