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Bang, then smoke. Is my Hoover CA230 dead?

Spin cycle seemed to go on longer than usual, then a loud bang was heard. When I opened the door white smoke came out.
At first the drum wouldn't turn. Now it turns but with difficulty, and squeaks. It used to turn freely.
I've had the back off and everything looks OK - even the belt is fine (this was my first thought).
Paul Hibbert, June 2011
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