My 92 wedge truck has 171000 with a Metric auto transmission. I started it and there is a grinding noise from hell coming from the area where the engine and transmission meet. Pulled the bell housing cover and found play in the flywheel to the tune of 5 teeth side to side. Torque converter and flywheel are turning in sync and all bolts are tight. I'm thinking the flywheel bolts have come loose and maybe wallowed out the holes in the flywheel. Any suggestions or direction before I take apart as to what I need to look for? Thank you.

 

Is the grinding noise when cranking, or running? What you describe, sounds like a faulty dual mass flywheel, but they were not used with automatic transmissions, to my knowledge. My diesel has a C6, the parts truck I have has an E4OD, you may have an AOD, which I have never worked on, but both of mine had solid flywheels.
If the noise is when cranking, a ring gear mostly wears in four spots, where the engine normally stops (V8). watch the teeth as you rotate the engine, and see if all the teeth are good, and inspect the starter drive teeth.
Edit, Also, the E4OD of that era was known for torque converter problems, so we really need to know what transmission you have.

 

I have the E4OD transmission with the Overdrive. No noise while cranking and all teeth are intact. The grinding noise is only while it is running. Occasionally it will stop grinding for 5-6 seconds, then begin again. The TC has been replaced by the previous owner. Next weekend I plan to pull the transmission and expect to find a bad flywheel. Any suggestions for a good solid one?

 

You could have some loose bolts, allowing something to drag, if so, you will see marks when you get it out. Before pulling it, drain the TC through a cloth and check for filings. I swapped an '83 7.3 into my '84 last year, the flex plates were very different, but after a lot of measuring, I used the heavy early one, which matched my C6, the drain holes didn't line up with the later E4OD plate.
They have the same imbalance and bolt pattern, just ensure the drains line up with whatever new plate you get.

 

The system will not let me edit that post, but the 7.3 I swapped was from a 93, not (obviously) an 83.