I haven't done anything with an automatic since highschool shop 20 years ago so I'm a little rusty on them. I had a rattling/tapping noise (almost sounds like a diesel) in the bellhousing, when I pulled the inspection plate with it running I could really hear it. It makes the noise in park or any gear at any speed and seems to change with engine rpm and not when it shifts, it seems like it's shifting normal and wasn't slipping that I could tell. I have the trans pulled now, the flexplate looks good and the bolts are tight and the converter nuts were tight so it's not any of that. There was some really small metal shavings in the bottom of the bellhousing along with what looks like a small washer about twice the thickness of a normal one with about 1/4 of it gone, kinda looked like a tiny axle c-clip. I can pull the input shaft completly out of the trans (normal?) if I stick the input shaft into the converter I can move it back and forth about a half inch, also the output shaft will move back and forth about a quarter inch. Supposedly this tranny was rebuilt 15k miles ago and the converter was new, the front seal looks pretty new and there is silicone around the pan like it's been off recently. Is it normal to have that much play in the output shaft and converter? I rebuilt autos in highschool so I'm sure if I had a book I could still do it if I have to. I'm still in the doghouse for selling my 01 Ranger and buying this truck 3 months ago, so I really don't want to have to spend a bunch of money on it. Anyone have any ideas of what I should do next with this thing? If it matters, it's a 78 F250 460 2wd.

 

The small washer and clip are from the starter drive gear.
It is ok for the input shaft to be pulled out.
The splines are different lengths. The longer spline goes into the transmission.
The output shaft should not move at all.
I'm not sure what you mean by the movement in the convertor.

 

What I meant with the convertor is that I took the input shaft and stuck it into the convertor and I could move it back and forth quite a bit. I didn't think the output shaft should move that much, Bad bearing maybe? Guess I'll probably have to get a service manual and tear into it........... Thanks