Success !! Found the issue pretty quick. Started her up and let her warm up. Jumped on, pressed clutch and engaged PTO....Squeak squeak again....Disengaged PTO to disconnect blower shaft. When I went to get off tractor, it stalled. Woah..ok. Checked seat switch, all seemed well, still no start. As I was looking at the PTO lever, the cable didnt seem to be retracting all the way, as it was buckling a little. By working the lever back and forth, I noticed a little rustiness on the cable. Got the tractor to start by manipulating the PTO lever.
Moved into garage and lubed cable with "Deep Creep", and cycled the lever several times until the cable would retract like it should. More "Deep Creep" ..work it, work it, work it. Repeated process like, 4 more times.
Started her up, put her outside, engaged PTO, no more squeaking....and promptly lofted a snow pile waaaaaayy out there. Everything is fine now. I will have to watch and make sure the cable doesnt start to bind up again, and if it does, I will have it changed out. Deep Creep is usually pretty good for lubricating cables, and not freezing up. Hopefully this will solve the issue. So far so good !! Happy camper.
Thanks for all the help and insight fellas. I know myself in particular, always tend to think worst case scenario. But it almost always ends up being something mundane. I'm just glad, that with all your help, I was able to figure this issue out.