Hi there,
Yes, I did replace the serpentine belt tensioner. If you are still in the preparation mode - buy the tensioner and the idler. The tensioner was $71.25 at Ford (I do not think there is an aftermarket part available) and it came as an assembly: the pulley and the spring loaded tensioner mechanism. I bought the idler about 6 months ago and I think it was ~$25 or so. On my car I replaced noisy idler and then the tensioner went, so this is why I recommend you change both and save time/trouble. You may also change the belt, $15 at Discount Auto Parts or $40 at Ford.
Now, the fun. Take the passenger side wheel off and remove the plastic splash shield that covers the crankshaft pulley. Then place a hydraulic jack directly under the left side of the engine. Put a piece of wood on top of the jack as a protection. Pump the jack gently so the engine has an extra support. Then take off the screws holding the engine mount bracket on the passenger side (the black cast iron thing). Remove screws holding the antifreeze top reservoir and move it out of the way (the hoses may stay connected). Remove the left engine mount. You may want to use a marker to draw the outline of the mount on the body so you reassemble it in the same exact position. Now you can look down and access the tensioner. Put a wrench on it and turn it towards the front of the engine. You may need a piece of pipe to extend the wrench. Ask a helper to hold the wrench while the tensioner's spring is compressed and dive under. Remove the belt from the grooves on all pulleys. Note how it runs so you place it back properly! Then release the tensioner and remove the belt completely. The idler removal goes without any comments. In order to remove the tensioner assembly you will have to use a torque bit T40. Buy a heavy duty one that fits a ratchet. The access to the screws is not to generous - not every ratchet will reach. It is a good excuse to buy some extra tools... (source: CarTalk guys ;-) There are two screws on the bottom and one (as far as I remember, it has been a few weeks ago, sorry) on the top. Then put the new tensioner and idler in and compress the tensioner again. The brand new part will be noticeably harder to compress. Be careful so the wrench does not pop out - it may become a projectile! Compress the spring as far as you can and the try to put the belt back. From my personal experience, you will be able to put it on only partially, that is the belt will be on all of the pulleys except one. Just leave it sort of on the edge, go up and slowly release the wrench holding the tensioner. Put it further back and try to compress the spring more. Let the helper secure it, dive under and place the belt properly in all grooves. Release the wrench, reassemble everything. Let me know if you have any further questions.
Good Luck! 95ContourGL