Thanks for the help so far guys. I did remove both draining bolts. So I get home today and start the bike up (after checking oil level and any leaks) and the noise has disappeared completely....

http://i375.photobucket.com/albums/o...psfrzcza3s.jpg
On another note, I decided to fiddle with her and installed the centre stand, optimate charge cable, h&b bash plate and a denali powerhub 2,

http://i375.photobucket.com/albums/o...psxpkjj3ua.jpg

and just as I was finishing the jobs, guess what I see: dents on the frame! On a brand new bike as well. So disheartening.

http://i375.photobucket.com/albums/o...pszjdvwvxs.jpg

Any suggestions as to how I can sorry this out? I've taken pics and sent an email to the dealer. Will probably call him as well first thing tomorrow.

I should imagine that it probably was a little air in the filter housing which has bled itself out whilst the bike had been standing and cleared when you started it today. Just keep an eye on the levels for a day or two.

As for the dents, it's a shame and I can understand why you'd be upset, but they all seem to have something not quite right about them! Mine has a patch of splatter from the weld just below where your dents are. I thought it was bad when I noticed it, but it's all but forgotten now amongst the other scratches and dings here and there. Think of your dents as a birth mark, like my chicken sh!t welding, a little genetic abnormality that makes your bike a little bit different. ;)

Nice bike BTW.

That's a good way of putting it! I have logged in my concern with the dealer, who has passed it on to Yamaha UK. I know i've only just got the beastie, but I'd hate these dent to be the bike's downfall should I sell it on in the future and they get in the way of the sale.