Are you sure the tranmission wasn't just a bit wound up?
Failing that, I notice from your avatar that you have FWHs how often do you run the truck with them engaged? 4wd/high low selector shafts are all splash lubricated by the turning of the front output shaft, which won't get turned unless the FWH are engaged, so things can get a bit seized up.
There's nothing you can easily visually check as it's all contained within the front output housing of the transfer box, but I can't imagine anythign is slowly dying more likely just needs a bit of use and lube.
here's a bit of a post I wrote for a different forum a while back that may be of interest...
"Stripping my old box down now so I thought I'd open up the transfer box and see how the 4wd system works...
This is the view in through the bottom cover of the transfer box
photo1 – Low Range
Here the transfer box is in low range.
Drive would come in from the
main gearbox on the far right of this picture and is transmitted via the intermediate gears in the middle to the output gears on the left.
The following photo shows the transfer box in high range
photo 2 - High Range
Sticking out of the front of the transfer box are 3 shafts
photo 3
The thickest one, at the bottom of the photo, is the front output shaft, which transmits drive to the front axle when 4wd is selected, at its left hand end you can see the dog teeth, and the silver ring of the dog clutch that slides over them to engage 4wd ( see photos 4&5 below. The one in the middle with nut on the end is the high low selector shaft; this is connected to the red lever. The top one is the 4wd selector. The bronze coloured piece attached to it is the 4wd selector fork.
Photo 4 - 2wd
Photo 5 - 4wd
In between the hi/low selector shaft and the 4wd selector shaft there is another short shaft
photo 6
This is the shaft that allows 4wd in high range to be selected. (the photo shows it in low range 4wd)
Photo7
The ‘L’ shaped piece you can see is connected via a lever to the yellow knob. As you push the yellow knob down it pulls the ‘L’ shaped peg in the direction towards the camera. This disengages it from the short shaft and allows the shaft to move forwards, pushed by the spring on either the hi/lo selector shaft or the 4wd selector shaft (can’t quite work out which), engaging 4wd.
When low range is selected the short shaft is pinned in place by the 'L' shaped peg, so as the hi/low selector is pushed back, by you pulling back on the red lever, the piece that is attached to the short shaft by a pivot and runs between the hi/lo selector and the 4wd selector pivots and pulls the 4wd selector forwards engaging 4wd. This is illustrated in photos 4 and 5.
"
The full thread can be found here...
http://ollr.10.forumer.com/posting.php?mode=editpost&p=36460