I changed out my timing belt a few weeks ago. I am rather mechanically inclined, have changed other timing belts, rebuilt engines, etc. I can say that this timing belt was a PITA. It was mostly my fault for working in a cramped garage (or as some people call it...car hole) and doing it by myself. It would have helped having another set of hands.

My observations of the belt condition were similar to xterraintx's. The tensioner bearing was in bad shape, and I could feel flat spots when I spun it. The belt was in good condition. If that tensioner siezes up...kiss your timing belt goodbye.

If I had to do it all over again... I would take it to a dealership and pay them to do the work. If you plan on doing it yourself, buy the timing belt kit from xterraparts.com. They have everything in that kit that you should change along with the belt (thermostat, belts, tensioner, spring, etc)

Gone are the days of being blinded by drained coolant.