Also, how do you have the wheel off the ground when you're adjusting? You want to make sure you've got it up by the swingarm so there's weight on it (as opposed to being supported by the footpegs or something). We made the mistake of doing that once on my friend's bike, so while it looked to be in spec while suspended, when we put it back on the ground, the chain ended up being WAY too tight, and sounded just like yours.