have you checked all of the nuts or bolts are tight on your exhaust headers?

Hmm, does sound odd then. Obviously it's hard without being there but it definitely sounds like something rattling/knocking. Would say its less likely for it to be non-engine related if it disappears when the bike gets warm. Mine sounds like it knocks when its cold as well but not that bad

Put a screwdriver to your ear and against different points on the engine and see if the noise gets any louder.

It may just be the tensioner that needs replacing

Wow I have a very similar sound to my '92 GSF400, but it's not nearly as loud as yours.
I recorded it:
https://dl.dropbox.com/u/22072961/MF/ratel.wav

I also immediately checked the cam chain but it looked fine (very tight).
I went to the garage and the let a mechanic listen and he immediately said it's your cam chain tensioner.

I went ahead and bought a manual cam chain tensioner and put it in. The stock automatic tensioner seemed fine to me. I'm still in the process of rebuilding.

Do you know what the problem was for you?
Oh btw, your bandit doesn't sound good to me. Sounds like it's running on only 3 cylinders.

My cam chain tensioner went a few weeks ago and sounded exactly the same. All sorted now.

Mine did it all of the time, hot and cold though.

H D wrote:My cam chain tensioner went a few weeks ago and sounded exactly the same. All sorted now.

Mine did it all of the time, hot and cold though.

So what exactly what do you mean "it went"?
I haven't tested the my new manual cam chain yet, but the old automatic one looked fine. When I put a screwdriver in and wind it back you can feel there's still plenty of resistance

Can't remember now as my mate whos a mechanic sorted it cos ive never had a 4 stroke before. Basically the ratchet mechanism had gone. You could wind it out but if force was applied it would return. Meaning that the chain went slack and you get that horrible noise.

H D wrote:Can't remember now as my mate whos a mechanic sorted it cos ive never had a 4 stroke before. Basically the ratchet mechanism had gone. You could wind it out but if force was applied it would return. Meaning that the chain went slack and you get that horrible noise.

Okai.. well if I press on my mine it's rock solid

Treet it to a manual tensioner
APE make them, if i remember right srad 600 fits.

Yeah I have an srad 600 one on mine now, not a manual one though, same fitment.