Hi LoCo, thanks for your feedback. Followed up on your suggestion it might be the damping oil, and lo and behold, if I wind the rebound adjustment right out, there’s no ‘wet fart’ anymore! So, its nothing to do with the air side of things then, but I guess the question has to be – should the oil dampening be making this noise? Oh, and I’ve also realised it makes the noise on the rebound, not the compression stroke.
On the bushings, have already mentioned it to the LBS where I bought the bike, and their knee-jerk and not very credible answer was that it is ‘normal’, so I’m just trying to get a broader opinion before I tackle them headlong on the issue at the bike’s first service, due in a few weeks.