Well boys, here is what happens when you let a timing belt go 245,996 miles BEYOND the manufacturers recommendation without changing it. The car in question was my dads 1997 Corolla (now mine, due to the $900 estimate from Toyota for replacing the belt and all the carnage).
The belt itself was definitely worn, the outside was cracked down to the center every 1/4 inch or so along its entire length. The 'teeth' on the inside of the belt were in remarkably good shape. It took a good bit of cutting with a razor to get through the belt, even as worn and cracked as it was. Unfortunately, it was the belt tensioner pulley, not the belt, that finally let go, as you can see in the picture. Ball bearings and pieces of the bearing race from the pulley went everywhere, and jammed themselves into the crank timing gear ($45), breaking the sensing teeth off it, rendering it useless, which in turn pushed debris against the crank position sensor ($85), destroying it in the process as well.
Luckily, this is a non-interference engine so the valves and pistons are fine. Changing the water pump (the original one), the crank seal, and cam seal while I am in there. As leaky as these seals were, there wasn’t a speck of oil anywhere on the belt.
So, I guess, the lesson here is…..…. don’t go 315,996 miles on the original timing belt!