First off WELCOME to Explorerforum
Your noise, it could be MANY things
but my first thing that pops into our head is CV axles
bearings lookm fine? in 97 you cant see the bearings, just the hub assembly
97 5.0L AWD = full time AWD, the rear gets 70% of the power and the front gets 30% all times no matter what
This means with 133K miles you can expect to need some front end work
also the 97 style driveshaft is known to have issues
first things first
I would look at/check in this order:
sway bar end links, both sides
leaking/ripped CV axle boots, inner and outer
front driveshaft ball flange at the t case
front driveshaft U joint at the front pinion
tie rods (inner and outer)
ball joints (check for play)
caliper mounting bolts, pads, etc (make sure brakes are firm and secure)
torsion bar adjusters (make sure bolt isnt broken, etc)
then if nothing jumps out at you, try removing the front driveshaft and see if the noise is still there.
97 5.0L problem area's:
CV axles
driveshaft CV
AWD t case itself
good luck and dont forget to search this stuff right here on EF, it has been discussed in detail, with pics!!