1967 4x4 excessive transmission/transfer casewhine?

[amoscl]

I am in the process of getting a 1967 Chevy 4x4 roadworthy. I have tuned the engine, replaced the u joints, serviced both axles, and changed the fluids in the transmission and transfer case. When taking it out for a spin it seemed like there is an excessive whine coming from the transmission or transfer case. I have never owned an old 4x4 so I am not sure what is considered excessive. I have read that both the SM420 transmission and T221 transfer case have a whine to them. After returning, I pulled the top plate off the transmission and the gears look like they are in good shape. Here is a video I captured after the initial drive. I did have the transmission access cover pulled when I shot the video in an attempt to better locate the whine.

Any assistance is appreciated.

Here is the video

http://youtu.be/gqOaGsegl9E

Thanks!



1967 4x4, 292 ci, Muncie SM420, Rockwell T221