Thanks everyone. I've figured it out or at least I hope. The bracket that connects the front of the deck to the tractor has a slightly bent arm. I think what's happening is that the front of the deck is being supported by mostly one link instead of both. With the deck lifted, there is about an inch of up and down movement. I'll attempt to square it up today and report back. I'll also post pictures of the bent arm
That front bracket on mine has also been bent slightly since almost new without ill effects. Will be interested to see pic of yours. Mine got bent when I forgot to snug the pin at the front and ithe bracket assembly came off while mowing. Mower ate the whole thing and spit it out without bogging down and without damage. Learned a big lesson that day and gained a huge amount of respect for those blades.
That deck weighs a couple hundred pounds so it seems odd it would bounce up and down enough to do that. Hope you are correct though as that would be a simple fix.