I agree. I haven't had a squeal, so I can really say much about this, but I would remove the boiler and tender shell and then run it around. See if you can find out exactly where the noise is coming from. If it's a bearing, maybe try some LaBelle # 102--106 or #108. If the squeal stops you've found the cause. It might stop for a bit and then return, NEW BEARING time. This might take some time to sort out.
The INDIANA RAILWAY has several [5-6] of the CC 2-10-2's and once the tender electrical contact issues were fixed, the engines run like champs and will PULL. Bachmann should make note.