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Check your tranny/differential fluids
My 94 Rodeo was making a similar sound during acceleration, and like you said, once I let off the gas, or just "maintained" the speed, the noise went away. Took it to the shop, they changed differential fluids and tranny fluid, and the noise went away. Mechanic said the sound was coming from the rear differential, and he suspected oil breakdown back there, and explained the "drop off" of noise as the amount of torque on the dif at the time.
Not sure if that's what you're experiencing, but that's what fixed mine.
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