Brudder, the symptoms you've been describing, despite all the parts you've thrown at it in denial hoping for a cure, still points to your IP being worn and headed on its way out. Surging is the biggest indicator. It will be really noticeable when using the cruise control at highway speeds on a longer, moderate slope downhill stretch as the IP won't be able to maintain a constant, stable speed from the ECM/PCM command. If the TCC begins locking/unlocking when doing that test, change out the IP BEFORE you barf a transmission in another few thousand miles.
I know this (unfortunately too late) from the failing IP in my Burb taking out my transmission from the repeated cycling of the TCC on every downhill stretch. It got so bad towards the end that the Burb would buck and lurch like a 25 cent riding horse in front of the grocery store as the IP would surge and the TCC was locking/unlocking in sync with the IP over accelerating/decelerating because of internal wear/sloppiness in response to minute change commands from the ECM.
You just described exactly what it is doing. Set the cruise at about 45 MPH, engine running at 1700ish RPM. You can hear and feel engine power drop out for about a second, then comes back for about 3 seconds, and repeats over and over. Smoke at startup and accelerating has never been this bad either. Damn, one thing after another with this truck anymore. I'll get one ordered...