Help me diagnose this tranny noise
 

So here we go. Start up the car and you hear this noise that sounds like something rubbing. Its not a constant rubbing but it gets louder and softer at regular intervals like a chugging noise. On occasion it makes a dinging noise like one of those bells on motel counters. I press the clutch in and the noise goes away.

I am assuming this is throwout bearing or pilot bearing. Any ideas?