I recently installed new rebuilt mk18 on the back of my mk48. Took her out on its maiden drive and about a mile down the road, a similar noise erupted- very loud and got loader the faster I went. After lots of stop, start, check this and that, I found the problem.
the drive Shasta for the mk18 passes through a hanger bearing. The drive shaft has a collar on it- thin metal, basically a splash shield. The outer edge of this shield, about 3 inch diameter, was rubbing on a portion of hanger. Two ways to correct it. One is to loosen hanger mount and push forward with hammer or simply bend back the splash shield with a screw driver. I did the latter and problem solved.
check your splash shield for rubbing/missing paint. If so, it's an easy fix.
pete