those trannies are always noisy, and considering the age [and likely abuse of a 1T hauling brick!] it certainly could be needing an overhaul, but make sure some of the sound isn't from the pinion bearing
"When we tug a single thing in nature, we find it attached to the rest of the world" ~ John Muir "When we tug a single thing on an old truck, we find it falls off" ~ me Some TF series details & TF heater pics