Greg,
I had a similar problem many years ago on a model 2 arm, also a 6 spring type arm. I'd here a little click (or creak) as I boomed up. I'd put my hand on the springs in the arm and found that the "feel" of the click was strongest on the middle spring in the upper arm section (section closest to the gimble). It took a long time to figure it out (multiple assemblies and disassemblies of th arm) but I finally fixed it.
The middles springs have a safety cable in them in case the spring breaks. The safety cable is held to the threaded inserts at each end of the spring with a pin. The pin was not seated fully and the exposed edge would rub on a coil of the spring as it expanded and collapsed. It was such a small amount of interference but it was enough to cause the click, but not enought to actually effect the booming action.
I'm not sure if the the ultra arms use a safety cable arrangement like the one I described above, but I'll bet that they do. The unfortunate part is if this is the problem, you'll have to take the arm completely apart, including the springs to rectify it.
Hope this sheds some light...I know how annoying this kind of problem can be!