It may help but doubt it would cure, should cost <£10 if you do it yourself so worth a try.
Funny ones things lie this - could go on for years whirring away or could fail completely tomorrow. Mine release bearing (or it may be bent fingers) has been noisy since I got the truck but is still going stronger, needs a new clutch now really anyway o will sort it then.
If the oil is coming from the bell housing (clutch housing) then it is probably your input shaft front bearing that is the problem and not supporting the shaft properly in the seal.
right update people, had it on the road today yipee!!,the noise is still there when driving in all the gears,but goes away in 4th and 5th when its warmed up.still expensive gearbox rebuld time? how much am i looking at if so?
Sorry just a couple more questions leo32,
Can you here the noise when the car is pulling say up an incline or is it just when you are cruising and on the overrun, and are you sure you cant hear it in 5th?
ask yourself are you able to get box out strip down (bet your bottom dollar youll need ford special tool xyz123!) and rebuild with new bits its a big ol lump metal !
Leo you might want to see my recent post re cost of recon box here in France under Mechanical - Gearbox bearing whine. The company have a U.K. base - if you're interested I'll try to get their details.