Andrew R Stewart 

One source of noises is when the bearing housings (at a BB these are the cups or cartridge "tube" that the bearings sit within) move WRT the shell, or the bearing's races on/in their seats. These types of noises are generally not going to happen if there's no pressure/forces applied in a direction that isn't a rotation of the axle. Or in other words the force to spin a BB axle is very small and often not enough to cause any slight movement of the bearings/axle/cups WRT each other (that's not rotational). So feeling the axle/bearing's spin says very little or nothing about how the bearings are secured in the frame.

Is the noise from your wheel or BB? we don't really know as we don't have the chance to do our assessments hands on. But the fix (sometimes long term, sometimes only temporary) is to take things apart, clean contacting surfaces, reassemble with the proper assembly isolating compounds (anti seize, grease, LockTite, carbon paste) and re test. For spoke notching issues (and I doubt that's what's going on here given the nature of the noise) the fix is to increase tension, replace spokes to keep a tiny piece of some hard material between that last cross so the notches don't engage each other.

Last I'll say that a squeak is not the usual metal on metal type of sound, like a bearing or cup slightly moving. Squeaks of otherwise stationary parts (like a non rotating crank or wheel) that are heard under pressure are often from a plastic or "rubber" part moving against a metal part. Do the hubs have an external "rubber" seal? Often a tiny drop of lube on this seat's contact with the dust cap is all it takes. Andy