I can't answer your question, but, I own a Trek 7.2 and its a noisy bugger, and it comes and goes, might be a clunk one week, a squeak the next, and its by the crank also. To be honest, I really have never tried to narrow down the area for two reasons, 1. It comes and goes, it might be squeaky this week, and next, but then a different sound after that. And two, it has been to the LBS and they didn't think it was an issue.

I thought it had to do with my weight, as I am 230ish and 6 foot tall, I thought maybe its just crying as I pedal, lol.