Thanks everyone.

For adjusting the tension, how do I know if it is too tight or too loose? Also, the squealing sound never occurs when the truck isn't moving. Only during movement.

As for the jerking sound, I've talked about it with my buddy. He thought about maybe the diff being to loose or the driveshaft needing to be shimmed. Well, I am not sure it is that. I am almost 99% sure it is my muffler that needs to be replaced. That nasty repair that one of the previous owners did just doesn't work. The jerking/pop sound is done when I start the truck, when I rev it and during hard acceleration. So, it might be an air leack in the exhaust system causing this.

So, I mught just go to Canadian tire, get a Magnaflow muffler or something along those lines that is universal. Then, cut that ugly stuff off and clamp on the new pipe. Alltho, what do I do with all the extra pipe left? When I am going to install the new muffler, I am gonna put it right after the cat probably since that is where the hole is. Can I just pull out the rest and let the new muffler under the cab?