I'm not a big engine guru. But I will provide a little info, just in case it may be of help. 302's are HOT under the hood. Driving it around for 30 minutes and then popping the hood, it's HOT in there, yet the temp gauge says around the middle. Normal, my 5.0 gets the same way, and my 89GT I had a few years ago did the same thing. It's probably because there isn't as much air space.. versus say, my 3.8. I could run the 3-8 all day, stop, pop the hood and it wont be flamin hot in there. reason being, more airspace. I wouldn't worry about that unless you are 200% sure its running too hot. Get an aftermarket temp gauge and wire it up just to be sure.
I have never heard of a crank bearing "squeaking". IMO, I dont think it would ever make any metallic noise , except scraping or grinding. The oil that gets in there would prevent it. Also, if a crank bearing were bad, the crank would spin a lot easier. On my 3.8, I can rotate the crank if I grab the pulley firmly with both hands. On my 5.0, I cant even budge it a millimeter. It's tight. If it's tight, you're crank bearings are good. Another way to tell that the crank bearings are getting worn, if you have AC, turn it on. When the compressor engages, any noises that you have on the tranny side of the crank will get louder. Or you may hear noises back there if there aren't normally any. The compressor engaging puts a big load on the engine and if bearings are worn or bad, the load being put on from the front end, will transfer to the back end. It's a fact. The throwout bearing in my tranny has always made rumbling/grinding like noises for a few years. Last couple of years, whenever I turn the AC on, the TB noise gets TWICE as loud. Signs that the crank bearings are worn.
Excuse me for asking, but I thought the Torque converter was submerged in tranny fluid? no? How else would it use the fluid to convert engine torque?
