I am doing a swap in a 93 with a cracked rod... (at least, that's what I was told by the previous owner... it makes a loud clacking noise at anything over 800-900 rpm)

I removed the driveshaft today and the thing just wouldn't come out of the tranny, so I put it in neutral and rotated it a few times. When I did this, I could hear a squealing noise. Kind of like scraping with a nail against a piece of metal except a little softer. Could this be the rod scraping on the cylinder wall or is it the tranny? I know the question is somewhat vague, but I'm just trying to figure out what it could be.
I guess I'll find out more when I remove the tranny (it's a 700R4 by the way)....
Thanks!