E30 driveshaft flexible coupling

I believe that the flexible coupling for my driveshaft needs to be replaced. I get a an intermittant squeaking at low speeds under the console until the car has been driven for a few miles. At first I
thought it was something rubbing in a wheel well or a wheel bearing until I had someone drive while I crawled around inside to find the source of the noise.
Looking in the Bentley manual, I see that you have to remove the exhaust system in order to get to the driveshaft. Looks like a project I am capable of doing, although a long thankless task to replace the $48 rubber disk.
Do my symptoms sound like I diagnosed the problem correctly? How long should I expect to spend replacing the coupling? FYI, the car drives just fine and there is no unusual vibration so I doubt it would be a transmission or u-joint problem. Also, this car gets little use this time of year. Driven maybe one day a week. Not sure if that is a factor and maybe the rubber disk just isn't getting exceercised enough. Roughly 115K miles on the car.
Christopher
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under the car. If just whining then leave it a while, perhaps it's something else? When the coupling went on my e30 it was sudden.
Hope this helps, it's what I remember, now got an e36 320 and an e46 330 but still love the e30 especially the coupe.
john
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Ranger wrote:

looking at it: It is visible from below. If it doesn't look like a homogeneous black piece of rubber - its bad. Replace it if its cracked shredded or coming apart.
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snipped-for-privacy@aol.com wrote:

No; the guibo (flex disk) rarely makes this kind of noise. The center driveshaft bearing does. However, it's standard practice to replace both whenever one replaces either.

Exercise doesn't help it. It degrades based on age and mileage. Couple of hours to change both parts. -- C.R. Krieger (Been there; done that)
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That sounds more like the centre bearing on the driveshaft to me.

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