My 98.5 24v Cummins is stupid loud.
I have spent time and money to quiet it down for both passenger comfort and less neighbor irritance. The main culprit is the oil pan, followed closely by the valve train, injection pump, and turbo/down pipe area.
There is a co in CA named Advanced Thermal Products that sells noise suppression blankets custom made for various diesel applications. Their products are expensive, but I love this truck and I am saving a ton of money by "fixing" this one rather than buy a newer one.
There is a poster on the Cummins forum that has spent a lot of time researching all of this, and a lot of it applies to Fords as well.
Read it
here