All of the maxtor drives I've owned have eventually started making clicking noises. I have a 30Gb drive sitting on a shelf for that reason, and there's another drive (either 20Gb or 30) in my 4000T that's starting to do the same thing. (Makes noises on accesses sometimes.)
Don't know exactly what's going on with the drive, but I usually wind up replacing the darned things as soon as I can before they get worse.
If I were you, see if it's still under warrenty.