Originally Posted by sers
i suspect that the stock chainring isn't perfectly round - this can lead to the clicking. sheldon has instructions on how to better center it. the method takes a little time to get down, but well worth it. in the mean time, using a lot of wet or wax type lube can dull the noise.
when you get some scratch, you might want to invest in a Salsa track chainring - about $40 and nicely round.
I tried to center it better (I read Sheldon's instructions), but I can't seem to make any adjustments. There is little room for movement.