yeah, they make a bit of a racket when done up too tight. too much strain on the waterpump bearings I think.
they don't need much. just a mild hand tightness on the pump I find good.
ive seen some belts with arrows on before, but I doubt it matters which way they go, as the shape of the belt teeth are same both ways.
I normally fit them with the writing facing outward, towards the wing.
ive pulled the cover off a few to find them fitted the other way round tho, and they looked visually fine.