Power steering noise, or tensioner noise ?

[sleepertruck72]

After swapping the serpentine set up onto my 72 (from a 97 pickup) I am experiencing a noise almost like a gear drive noise. It gets louder as you rev the engine. At first I thought it was the power steering being a little low on fluid I topped it off and it still is making the noise, and turning the wheels does not increase the noise. I tried to take a video of it but it is hard to hear at idle with my cheap camera. Does the tensioner make noises when wore out. It does "jiggle" ever so slightly when running, but I figured that may be normal. It is not new, but the belt is. I will get a video with the jiggle of the tensioner for you guys to look at. Thanks