I had a similar ticking that would drive me absoulutely bat $#!T crazy, but after I put on my full NHP exhaust it stopped (definately an exhaust leak in my case). It was coming from the passenger side of the car and would echo off of anything on that side!
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-Jeff- "I'm a glutton for punishment when it comes to my boxster" '03 S/ PSS9/ B&M short throw/ EVOMS intake/ NHP full exhaust w/ headers / Cantrell MS custom tune