My 944S developed a 'ticking' sound as well. It sounded rather like a marble hitting a hard floor. It increased with revs too. I discovered that it was the timing belt being slightly loose and flapping on the side that goes down to the crank pulley past the WP guide. It was happening because I too had replaced the belts recently and had not gotten around to checking the belt tension - as you should after a while! Basically, the new belt had stretched a bit (as it would), and needed a re-tension. So, I did this and the noise went away...

result. Might be worth checking this, as it could be the problem. Screwdriver or 'scope the front belt cover at the top.
Hope this helps...
