Sounds as if you have carefully gone over everything on the output side of the steering system, but how about the input side?
Steering gear securely mounted to the frame?
No cracked frame issues?
Excessive internal play in the steering gear?
Pitman arm tight on steering gear output shaft?
Rag joint tight?
The fact that the shake hits suddenly at high speed (rather than building gradually as speed increases) - and also that the truck runs straight and true - suggests that the movable components are tight and doing their job. Maybe too well.
It's possible that under smooth operating conditions, and assuming the dynamic section of the system has little or no play, there will be no apparent vibration felt in the steering.
But consider what happens if a major stationary component - or one that sees only limited movement - is worn (or not securely mounted).
When there is a sudden disturbance imparted to the output side (due to bumpy road conditions, quick direction changes, uneven braking, etc) and the linkage on that end is very tight, that shock is transferred back to the input side.
Since nothing is loose enough to dampen the vibration in the dynamic end, the force will continue back up the steering system. It will not be dissipated until it finds a component with sufficient "give" to absorb the road induced shock.
If, for example, that spot happens to be the steering gear (because of loose fasteners/cracked frame, etc) you will feel it come through the steering wheel. And it will feel exactly like a front end problem.
Anyway, having said all that, I would certainly snug up on your wheel bearings. When you say you observe about 1/16" of play - you don't mean end play do you? If so, that is too much - I think.