When i ride my bike, the faster i go, the faster i hear a clicking noise, it is more pronounced now that i put a new tire on, which leads me to believe that my allignment is not adjusted properly... do these bikes make a clicking noise if not alligned or no... it also seems lke it may be too much slack in the chain causing the loud noise.... its frustrating!

also, when i took the front sprocket cover off i noticed that the sproket hase about 1/16-1/8 inch of play back and forth on the shaft.. the bolt that holds the sprocket on was tight... could this play be the clicking noise or is this normal?

 

Not sure about the tolerances on the shaft play...but try getting the rear of the bike off the ground, spin the wheel, and see if the noise is still there...could be the wheel alignment and the sprocket teeth/tooth is getting snagged with the chain...
Ron