northwind, to be honest i am not fully sure what was going on. all i know is that the bottom bracket was tight, i did it as tight as i could but was aware that you could deform the plastic (tighten and it distorts). I had taken it out and greased it before to no result. After it failed, with damaged bb shell threads I put a different bb, XT, with different spacers in and that didn't creak. Hence gut feeling is that there is some issue with the plastic spacers and that there is just enough flex/play. I have heard of a few people who have had creaky hope bottom brackets and it has seemed the spacers were also possibly at fault. (creaks disappearing once alu spacers fitted.)
For the OP it is more a warning to keep an eye on the spacers, just in case the spacers are the issue, for the sake of a few pence the frame damage that may result is both inconvenient but also very expensive.