Hi,
Thanks for the helpful hints. Putting it all together, the problem seems to be solved. I finally had time and put in new brake pads this weekend and the clunking sound is gone. I got the "soft pads" -- the only pads Sierra Racing would sell for street use. Sierra was a pleasure to deal with and real helpful (Ron Burdg, president). Went for a quick test drive last night and everything seems fine. So, back to being a happy driver.