Other sources for rear clunking? (not shocks or mounts)

[Travelfeet]

Could be subframe bushings or pitman arms right, anything else, or advice or which to look at first? Pitman arms were replaced 30K or so ago, bushings never to my knowledge. Contents of trunk are secure. Shocks and mounts are new.

Cluncking is frequent over small bumps, have 17" wheels, lowered springs, new bilsteins.

If I recall from past posts, subframe bushings are a PITA. Any advice specific to '94 540 replacement (if recommended) is appreciated.
Current mileage about 140k

[winfred]

diff mounts, the bolts on the trailing arms (ive seen people use the wrong hardwear and the bolts loosen and start wearing through) subframe bushings, worn out driveshaft, busted swaybar links, halfshafts (axles)

[David Chen]

The top shock mounts and rubber at the top of the shocks are also suspects. Check the yahoogroups.com M-Sport group for a recent discussion.

[kiNGMak]

check bolts holding the rear diff... i had a clunk.. it was the bolt...