Conducted numerous searches online for obvious indicators as to which part would likely be the issue causing the loud noise. Between YouTube and a couple of other sources, the consensus seems to be the drum rollers are the most likely source but there could be a slight chance the noise may be emanating from the idler pulley or tensioner arm. This led me to this repair kit. It is well worth it for the price and time vested opening up and doing the repairs to the machine myself...now I have managed to update and refurb my machine to which I hope will keep it up and running for many years to come. Follow the repair videos instructions by this site to get in there safely and conduct your repairs.
Couple of notes - I don't recommend pushing the metal retaining clip/washer in with a screwdriver as you can see in their repair video it bent...try using a socket head to push it in smoothly and evenly. Have a shop vac ready for all the dust hair and lint you are about to encounter. Also note the amount of hair and dust on the roller's clips in the repair video (I had twice that amount knotted around the roller arms and clips)...THIS IS LIKELY THE MAIN REASON FOR ALL THE HIGH FREQUENCY RUBBING AND NOISE I HAD IN MY MACHINE...UGHH what a mess. **You will need an extra set of hands to put the drum back in with the belt on it. Disassembly and reassembly can mostly be done by one person but to align the drum during the reinstall GET MORE HANDS TO HELP. Definitely know better for future maintenance to pull apart the machine and clean out those rollers and tensioner arms every few years to keep them going and lasting a lot longer.