Reverend Red Bull
Looks like my failed alternator might have just saved my engine. I was at 209k, and waiting for a convenient time to do my 200k timing service (100k service done at 108k), when the alternator failed, causing me to also get around to the timing service while I was in there. When I removed the timing cover, this was the condition of my timing belt, and the amount of rubber debris that had been deposited inside the timing cover. The belt was so loose that I could pull it off without releasing the tensioner, but fortunately it hadn't slipped any teeth yet.