More like clocking noise coming from my left rear tire. More so during acceleration and turning. Not sure what it is yet and thought one of you might be able to help. It's not anything loose, it sounds as if it's coming from the actual rear axle or tire.

I had the same noise, drove me nuts looking for the problem, tried everything, i almost gave up till i decided to do one more thing, i re-tensioned the rear wheel bearing nut and the noise went away, thought all was fixed untill it came back after about 500k`s now i decided to replace the wheel bearing itself. the old one had some chips on the running surfaces and the grease was quite dry and the surfaces and balls had a slight blue tinge to them showing they were getting hot. all is fixed now, btw mine is a 300e 87 124 150000k`s on it i`m going to do the other side also, i belive the life of these bearing to be around 200000k`s. also do`nt let any one tell you you need special tools to do the the job the bearings are an interferance fit and can be taped out and taped back in, it took me about 3hrs do do one side, now that i know what i`m doing the other side should take about 2hrs. you need to get the rear aligned after the job unless like me you mark the toe-in camber washers before doing the job and put them back to the same position after the job, good luck it`s time consuming but if your like me and do`nt trust anyone to touch your baby it`s very rewarding.

georgehifi,
Thanks for the tip! It too drives me absolutely crazy to hear that noise. I just didn't want to sound crazy or obsessed with my car (even though I am) saying it; so I'm glad you did. I will have sometime this weekend to look at it and hopefully repair it. I'll let you know how it went or is going. Thanks again.

Well, I forgot to post back but the noise stopped by itself. The hour I went to jack up the car and pull of the wheel -no noise- Don't know... Well, if it returns I'll check and follow up on this.