Yarp - good guess FTW
You can dab a small
amount of grease on the gears under that cover, but no more than say 1/2 the size of a pencil eraser (don't want excess in the clutch itself ofc). People also line the clutch cover with rubber mat (mouse pad cut to fit), or buy covers for the outside - or even what I did, which is just sprayin' a coupla coats of rubberized undercoating on the inside of just the cover itself, which works quite well.
It IS kinda a disturbing noise heh - I assumed the thing was tearin' itself apart 'cause some guy in China had left something in there he shouldn't
4500 miles later - it sounds the same o_O *shrug*