Thank you for the reply.
If the noise was coming from one side, I would agree that it could possibly be a faulty part. But the likelihood of receiving two is ridiculously low. Low enough to assume that isn't the issue.
I did try jacking it up and using a pry bar to locate any loose parts. Nothing was loose. Everything was tight as it should be.
I did not remove part 1 in that diagram to install these arms. I literally did everything I outlined in the initial post. Nothing was removed with the exception of the thrust arms themselves; and the only other part that was "moved" was the sway bar bracket. As a side note, both tie rods and drag link (center link) were replaced a few weeks ago.
-Mike
Past - E36 328i, E36 M3, E39 M5, E53 X5 4.4
Present - E12 528i, E34 540i, E36 M3