Serpentine belt on its way out, or one of the pulleys (alternator, harmonic, water pump, tensioner) to name a few? Not too many components made of rubber that may be causing the smell. Piece of rubber hitting the exhaust...just throwing ideas your way.
How many miles, any mods, blah, blah, blah. This information may aide in the diagnostics...let us know if you find anything.
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mults
40th Anniversary 'Z', 312.06HP/260.58TQ (Dynosty EcuTek Tune)
Build Date/Number: 1/27/2010 #706
Berk HFC + CBE, R2C CAI, Clear Bra, Cleveland Z Club
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