I have just fitted new pads in my disc brake calipers. I adjusted them up exactly as Shimano states with a feeler gauge but the disc seemed to touch the pads on rotation. Spin the wheel and I got tick, tick, tick. Three times I had it all out and I even had the caliper out and reassembled it. It still ticked on rotation. Then the penny dropped. The ticking was the reed switch for the computer pulling in on each rotation of the wheel as the spoke magnet came round.
Doh!!
Doh!!