I have a 2002 Ranger XLT 2wd, manual tranny, 55,000 miles.
Just recently when I engage reverse gear and let the clutch out I am hearing a squeeking noise and it seems to coorliate with the clutch engaging or the drive shaft rotating. It is not a constant sounds but seems to be squeeking in relation to something rotating...if that makes sense. It only makes this sound while in reverse.
I just recently had the tranny fluid changed and everything seems to be on the up and up.