Ok, thinking its case closed on this one, but wanted to report back for future reference. The clutch fan was the culprit. I replaced the OEM (part reads Delphi Automotive USA) with the Hayden HD Clutch fan Part #2771 (Now made in Korea). My original clutch fan was extremely stiff, trying to rotate the fan blade would allow it to maybe move an inch or two, vs the new one once warmed up will do a revolution or two. My guess is the fan was locked up and coming down off of high RPMS it didn't want to let the water pump slow down with the rest of the pulley driven things. The new Hayden clutch i can even rotate the bearing on it before putting it on the Jeep, the old one takes a herculean effort to move.
One thing i did encounter after the change, i needed to notch my fan shroud a bit more since the fan was all of a sudden making contact with the shroud. Once that was corrected, took several road tests, cold starts, etc. For 2 days now the chirp has vanished.
So finally tally on my 05 LJR with 79k miles: New water pump, power steering pump, alternator, idler and tensioner pulleys and gatorback belt. Both pulleys had a bit of a gritty sound, along with the alternator. Only one that chaps my hide a bit is the power steering pump, but in the end not sure how i could have diagnosed the clutch fan any sooner?
Onward to the next repair! Cheers!