vibration as in steering wheel wobble vibration or just vibration when letting off the accelerator? If its in the wheel more then likely nothing to do with transmission, how is your front end suspension, espesially your inner/outer tie rods. My ranger vibrates when I let off the accelerator but it has bad front end suspension namely ball joints, and tie rods. Check your front end first. Maybe a far fetch but grinding could be from warped rotors, but i doubt thats the problem, start with checking the front end, you never know. Oh before I forget when you decelerate, put your trans in neutral see if it makes the same sound. Just for kicks inspect your cv boots too on your cv shafts. Yes I know the car has 54k on it but doesnt mean anything, Ive done work on 2004 with 30k on them and replaced struts and crap on them. Anything is possible.