I've got an 07 R3 classic (stock), 4000mi.
Heard the same noise on mine a few weeks ago. Scared me so I went to the dealer and had the mech ride it. Turns out to be the shaft bearing. Dealer told me that Triumph rep said several on the line in 07 had the bearing installed backward at the factory.
Bottom line for me. Warranty work-Triumph asked dealer to ship bad assembly to UK. 2.5 weeks now waiting for new shaft bearing. And its peak of the riding season...good thing I've got my Scrambler.
What do you R3 marines think of this scenario? I trust my dealer & I've read the shaft bearing posts on both boards, but I'm just not a mechanic, yet.
mk