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'06 LS430 ML w/88,000. I just noticed a mild high pitched squeal on start-up today. It seems to get a bit louder and faster when I accelerate for the first half mile or so, then it goes away. Seems to be worse after the car is sitting for over a few hours.
Power steering fluid and timing belt replaced four years away at about 43k. Reminds me of a power steering issue on my '97 LS400. Don't seem to notice any fluid leakage but will get under the car tomorrow and look more closely. Serpentine belt is original, may be time to replace it.
If that is the original serpentine belt, I would do that before anything else. The morning squealies are a tell tale sign of a belt that is beyond it's life span.
A new belt can be installed in a matter of minutes and if that doesn't solve it, I would look at the tensioner.
Spray a little soapy water on the belt when you start the car before the noise has a chance to stop. If the noise abates when sprayed then shortly returns, it's a bad belt.
The high pitch squeak is from the belt slightly slipping. That could be due to a stretch/old belt, it could be the tensioner not putting enough tension on the belt to keep it nice and tight, or it's both. Belt is a quicker/easier fix. Obviously replace tensioner if a new belt has the same results.