Is there any common problem which causes a creak at front?I noticed this noise at low speed while braking but it seems more noticeable now and detectable when driving.
At a guess,and this is a guess it seems to me it could be something like a bush squeaking/creaking that is beside the brake caliper???
I ask if there is a common problem,because 2 yrs ago an S320 I had was doing the same but to a lesser extent.
Just a thought, but if you're in or near a metro area roll it in to a front-end shop and have them take a look and give you an estimate. No one says you have to get it done there, but that will save you the current headache. Then you can decide if it's something you want to do yourself. If it is the ball joint, see if they'll make you a package deal since you'll want to get it aligned anyway and alignments are big profit items for them.
Re: the other idea, I don't think I'd be making holes and squirting grease. If the ball joint's shot, that's not going to do any good (i.e., even if the creaking goes away, you still have to replace it) and if it's not, you'll just introduce foreign grease and potentially contaminants, thus hastening it's demise.
I had the same noise. I was told it was probably the sway bar bushing. I found the lower ball joint boot was torn (big hint)...so I filled it with oil and the noise stopped. Changed both lower joints.