Well, I finally found the source of the noise. It turns out to be the throw out bearing. I backed off the bearing from the pressure plate and it got quiet, hopefully it did not wear it prematurelly. The bearing is the one from PI and only has about 600 miles on it. Remember this is what stopped team Pantera in Bull Run.
PANTERA INTERNATIONAL
A DE TOMASO CAR CLUB
Presents the De Tomaso Forums
The On-Line Meeting Place for De Tomaso Owners and Enthusiasts From Around the World
Clicking on the banner will take you to the sponsor's website.