I could use a 1974 slant six manifold heat control valve expert!

I'm glad to have been wrong; let's hear it for not having to do another manifold R&R! Though I remain baffled at what was causing your noise; maybe what you meant by "boomy" is not what came to my mind with that word.
Thanks, Dan. And thanks for the recommendation about the correct manifold heat control valve solvent. I went out and bought a can of the Mopar Rust Penetrant that you recommended and lubed the shaft up with it. Everything works perfectly and smoothly right now - just like a brand new valve. That stuff is amazing!