My '01S does the same thing, but not nearly as loud. Can barely hear it, but is definitely there when the car is hot and idling with clutch out.
Best of luck, hope it is no big deal. Please share what you find out.
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'01 986S: LN IMS, PedroBar, PSS9 coil-overs, underdrive pulley, 997 short shift, GT3 console delete, Crios muffler mod
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