Wierd noise!!!!

["Jason and Maria Colavecchia" <jasoncolavecchia@domain.elided>]

Ok, here's one for all you automatic tranny gurus...

I am getting a wierd noise from the transmission.  It seems to occur in any
gear, and it pulses in and out.  I sort of sounds like the noise that an
open chain drive makes, or possibly ball bearings spinning in a race.  It
is not continuous, but pulses a a regular rate.  This noise occurs in every
lever position, including neutral and park.  It is worst in the morning,
but seems to become quieter once things heat up. The transfer case is, by
the way, not the cause as I am quite familiar with the noise that makes
when in 4wd or 2wd with the front hubs connected.  when the hubs are
disconnected and the t-case in 2wd, you still hear this noise.  It also
happens with the t-case in neutral. When cold, the transmission will
sometimes emit gear noise in reverse if you hit the gas.

The transmission was recently adjusted in both 1st/reverse and kickdown
bands, as well as new filters and seals.  this tranny does not leak.
(although it did until I realized the little seal around the kickdown valve
was turned out...fixed that and it all stopped)  The fluid level is normal,
when checked according to service manual guidelines.  It does not slip or
overheat, nor indicate anything else that could be the matter. Sampled
fluid smells and feels normal.

It's all up to you guys!!!