I've only had my car a couple months now. Being that it is summer I had the windows down and I noticed a ticking noise sometimes. Only when I hold the throttle at a certain position. My buddy noticed that it comes only when I am around 0psi boost and he suggested it is my waste gate flapping around, but he also said it seemed a bit loud for that. I know its had to diagnose with out hearing but does his explination sound reasonable or should I check it out further or get it looked at? Maybe I will try and get a sound byte from my digi cam but i don't know how well that will work...

Only turbochargers have wastegates, to allow high boost at low rpms without too much at WOT.

Does the ticking happen only when the engine is cold, or hot, or all the time?

Charcoal canisteres can tick pretty loud.

That'* what I'd look at first. Under the airbox. The solonoid makes a good tick somethimes. Normal.

A small exhaust leak can make a ticking, also. Mine has a pin sized hole that ticks near the cat.