I've done it, if it is just in gear and idling it's not as scary as it seems, I did all that and got under the truck and listened and I was still wrong about the source of the noise though I was sure it was the transmission but it was actually the rear differential, but in your case it may be easier to find a pump type noise
i paid closer attention to when the pump noise starts and it is right around 40mph. I can stick it up on the stands, sit in the driver's seat and run it to that speed and listen for the noise. If it's there I'll get my wife to do the same and I'll listen from the ground, but don't think I'll crawl under.