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It's the belt, well atleast it is on my 5spd. I have heard changing it to a "gatorback" belt helps elminate the slipping. My car has done it from day one and everyone tells me it is the throw out bearing but I know it isn't. I know what a TOB sounds like and where the sound should come from.
haha thats funny my expo has a 5.4 and i have a gatorback on it and every so often it still does it but yeah it is the f'n belt slipping on the crank pulley