What about the bearings in the spindle housings ?
That noise is a bad bearing somewhere
Take the belt off , well that happens all by itself
raise the mower high at the front
Spin each blade, it should rotate smoothly & quietly
Grab the tips of each blade then try to rock it see saw fashion
There must be no rock what so ever
Now try to push & pull the blade
A tiny ( about .0005" to .002" ) is acceptable any more then either the bearings or their spaces / holders are buggered .
My quick & dirty test for axial play is if I can see it move it is too much, if I can feel it move but not see it then they will need replacement in the near future .