Way to go guys, I really appreciate the feedback. Today I got under the truck with my ears on and did what you suggested. The best I can tell, the noise is coming from my Brown and lipe tranny. Sounds like the bearings are going to pieces, Also I have noticable up and down play in it. I wont drive it again, and I will hit the 4 wheel shops right away for info or names of a rebuilder. I am about 29 miles from Huntington Bch, north west roughly- just south of L.A.
I replaced all wheel bearings about three years ago, believe their good. The truck is kind of a blast and I have fun with it. I got it so I could haul my model T and or old motorcycles. It does both well and always attracks a crowd at events. Still needs lots of work, but it has proved pretty darn relaible - never been towed yet, knock on wood.
Mighty slow though, I am the slowest thing on the freeway. On the flat I can run about 52 mph at about 2,800rpms, dont think I have ever passed anyone :-)but I dont worry much about getting run over. Thanks again for the replys, I will keep you posted, Tom.