I'm having some odd behavior with an '86 745.

Symptoms: appears on braking at most stops when the car has been traveling over 10 MPH. Noise (loud click or quiet clunk) occurs somewhere between 15 and 5 MPH on the slowdown, and is more common on the driver's side (or at least more noticeable, since it can be felt through the right foot on the footrest as well as heard). Occurs even during very light braking, but does not occur if the car is slowed down to ~20MPH and the brakes are let off and car allowed to coast down.

What I've done: Checked lugnuts. Removed wheel and checked brakes to make sure the calipers or pads weren't loose. Visual check, nothing hanging down. Spun hubs, bearings seem to be fine.

Current suspicion: The part of the suspension that leads from the wheel back in at an angle to the car body in the front of the passenger compartment. If I'm reading the diagram right it's the radius arm. This seems to be in the right plane to be making noise during deceleration, and the rubber bushing at the wheel end is starting to crack at the edges.

Why this might not be the issue: Car doesn't "click" noticeably when brakes are released at 20MPH, and if it were from inertial body movement it should "click" whenever the force is removed, right? Also, the "click" at 5-15MPH seems to occur even when brake pressure is kept constant, thus potentially not being because of changing forces.

Am I likely looking at the right part? Any advice for testing?