Funny, I was going to do the exact same thing you did tonight (find a picture of someone's knees and circle my problem) for the outside of my right knee, but decided there could be too many causes.

I have medial knee pain as well (have had it for 5 months), but it's due to running and doesn't hurt while cycling. Do your knees hurt going up and down stairs, and does it hurt only at a specific angle as you do a one-legged squat or throughout the whole bend?