The Isuzu-built 3.2 is a non-interference motor. No valves should be crunched. The biggest penalty for letting the belt replacement go on these is the potential for breakage somewhere down the road, with resultant non-running engine.

Take 'er down and install a new belt & water pump (the pump replacement being that compared to the cost of tearing it down again for a pump replacement, the pump price is relatively small).

Also recommend renewing hydraulic belt tensioner(s), as they are known to be problematic as well. When a belt tensioner goes bad it'll cause a noise that sounds exactly like a bad rod bearing.

HTH..........ed