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I have a 94 F150 with the M5R2 transmission that has recently run low on fluid (problem solved) and has begun to whine (problem not solved). The unit only makes noise in 1, 2, 3, 5 which leads me to believe that neither the input nor output shafts are bad. This is about all that I can deduce though. The pitch of the whining changes with acceleration in a particular gear and quits when either the clutch is pushed in or you let off the gas.
Is this a risky or deteroriating conditon or will it just continue to make noise until i do something? How challenging is rebuilding this unit? Should i try to locate a used/rebuild unit and just swap the whole mess? Also are there any other posts that you guys could point me to, as i have not really turned up much with the search feature.