My 98 did exactly the same thing. My 01 doesn't bounce but there is a point at 38-40 where I feel just a little tremble in the drive train and it disappears. On the 98 nothing I did ever cured it including rotating tires and a new set of tires. I always thought it was probably the rear drum balance but the 01. 5 has discs so maybe its the drive shaft.
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2001 HO 6 spd 2500, 4. 10 LSD, Towing Package, Electric Brakes, SPA EGT/Boost Gauges, Running Boards, Fog Lights, Real Backup Lights, Running Boards