I have this sound too, it is really distressing. I had the passanger (LHS) wishbone/balljoint replaced a year ago but didnt do the drivers side (RHS) which is where the creaking is comming from.
I replaced all other suspension parts last year with the exception of the upper strut mounts, but my gut feeling is that its related to the RHS balljoint so just ordered it there and will update after installation if it solves the creaking sound.
This is on E46 M3 BTW.
Last edited by GEO147; 12-27-2012 at 12:54 PM.