Sounds like you just picked up a great deal. If you have a granny gear you probably have the ZF tranny instead of the M5OD. The 300 I6's aren't known for great acceleration or top end speed, but you will have awesome low end torque. That and you have one of the most dependable motors ever put in a Ford truck. For your power steering pump, if it is making a low whine/growl, that increases/decreases respectively with RPM's it is fine. A lot of Ford cars and trucks make that noise. Has to do with how the pump was designed. As for the hub locks(i am assuming you have 4x4) I would go with a good set of Warn manuals. I am replacing my auto hubs with a set of Warn hubs next month. I hope you enjoy the new truck.