Before I get carried away. This is only my second truck and I never test ran my first, just put it together, not sure what normal is so I made a video. The driveshaft is disconnected so this is stock 540 motor ( Sue didn't like the slower puller motor I had installed initially

) the tranny and 4:1 are under no load.
http://youtu.be/zr5Ym_-3CCk
I also had a driveline issue. The set screw for the u joint at the 4:1 was causing the joint to pull on the output shaft of the 4:1. I need to file the end of the yoke to allow the set screw to fit fully on the milled edge. That's why testing with no driveline and also eliminate axle noise .