2 quarts low shouldnt blow the engine. Try to find out if it is the timing belt tensioner. Most 3.2's are noisy when they get up there in age except mine <img src="/forums/images/graemlins/cheers.gif" alt="" />

94 Rodeo 3+3 lift Red)
95.5 Rodeo 1" Body lift Dana 44' front & rear 4.88 gears 35"s 176,000 miles Optima Yellow top InexAir Co2
front winch bumper custom rear bumper, Hella 500's
2004 Silverado duramax