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Keys on a crankshaft are generally designed to fail at a certain torque. This is to prevent excessive damage to other components. Have other things failed (seized-up) on your engine such as the air conditioner compressor? Something like that may have caused the key to fail. If that is the case, then the key did its job of protecting the rest of the engine.

Everything spins fine by hand, without any type of binding. And like I said there was a large chip in the pulley and I believe this is where the failure was and then it ground down the key!

John Pszenyczniak
67 Mustang Coupe
95 Firebird Formula
05 Ram hemi 4x4
91 Montero RS LWB w/ 320k miles before rebuild, 900 down and its still kicking!!!