IF your PTO has a lever on a side plate then it was made for a cable control. This lever, about 2.5-3" long will travel approx. 25 degrees at the end where the cable attaches. LEVER control PTO's used an eye bolt and these come out through the end of the cast housing. They have about 1" of travel in and out. This is pretty much true regardless of brand (Muncie or Chelsea)on the older units and whether it is a single gear or a double gear PTO. If you have a lot of handle travel if may only mean that your control lever is excessively long. Too long a handle cause unnecessay vibration and gear wear. If yours has the little side mounted lever(above) then I would most certainly change it to a cable operation.
When engaged a PTO should not make any noise. If it whines it needs shim gaskets and if it rattles then it needs to have thinner gasket(s). Gaskets come from .010 to .030 and spacers come from .060 to .375. Nearly all the old dump trucks with basic 4 & 5 speed transmissions used single gear PTO, i.e., the unit had one gear that slides on and off the driving gear inside the tranny. These transmissions had only six bolt opening(s) and were on the side(s).