Not trying to put the wind up you by any means but the clicking/knocking sound you seem to be getting was exactly what I was experiencing a month or so before my '04 final drive shit itself!
I could only hear the clicking/knocking noise whilst free wheeling also!
Being my first ever GS I took it to my BM buddy who stripped the shaft to check for wear on the joints (not a thing found) but knocking/clicking noise continued for weeks & then disappeard for a short time....happy days!
I had it in for MOT during this time & the test centre guy mentioned slight play in the rear wheel which i took with a pinch of salt as he said it wasn't serious enough to wory about.
Very soon afterwards I was experiencing front end wobble under deceleration & low gearing.....changed nearly knackered front tyre & checked bearing movement at the rear wheel (was ok) but still didn't cure front end wobble!
And finally came the crunch, nearly got flatened on a fast sweeping left hand corner two up & fully loaded under acceleration when the front end went into a near tankslap.
Final Drive had gone comlpetely.....now I'm glad I kept an eye on this forum cause there were all sorts of answers as to what happens when your FD F*ks up!
From what I'm lead to believe the bearing in the Final Drive packs in & the splines in the wheel carrier & Drive chew each other to bits causing excessive movement in the rear wheel....hence the front end wobble at low speed.
In my opinion I would check the play/movement at the rear wheel, check if the front end of the bike starts to wobble under deceleration....if this is the case then you've probably got a failing FD.....
I learned this lesson the hard + expensive way!
BMW Uk have asked me for my old Knackered FD to diagnose the reason for it failing at only 20,000 miles?
Good luck, hope this info helps.
