HELP, Bad Torque converter or bearing?

Sounds as though you may have the area isolated and if it were i, having a hobby shop and plenty of tools, i would drop the tranny for further investigation before causing any major problems. Could one ear break from the flex plate? The convertor wont spin in park. No noise. In neutral it could spin slightly due to friction. Slight noise. In gear it will definatly spin and that's when your getting your noise. Drop the tranny. My two cents