I know this is off topic, but I think it's appropriate to repeat what I wrote years ago on the"noisy Märklin locos" subject.
The "noise" of the original Märklin motors has been a topic of interest for as long as I have played with trains (i.e. over 65 years)
The noise originates essentially in the gear train as you may have suspected.
The commutator is also a notable noise source, especially the flat versions of older locos, and finally the magnetic noise of the AC powered motors is the source of that buzzing we have all learned to love.( with a somewhat higher pitch in 60 Hz countries...)
In theory, an ideally cut and assembled gear train should make *no noise at all*, as there should be no friction between meshing surfaces: they are supposed to **roll** on each other. No rubbing.
Knowing that you'll find lots of noisy gears on Märklin locos for a number of reasons:
1° gears don't exhibit a perfect profile. This was especially true in the days where gears were stamped , not machine cut.
It was the years of hit and miss : If your loco was mounted with **all* its gears cut with fresh dies, you'd be lucky and had a fairly quiet loco, but more than often you had at least one imperfect one in the lot, with the corresponding "racket" as a bonus

. .
Luckily today, gears are cut accurately and repeatably on automated gear cutting machines, as I was able to witness during several factory tours. And progress is really obvious here.
2° gears are not mounted at the correct Center Distance (which is calculated as 1/2 (D1 +D2) where D1 and D2 are the respective pitch diameter of the two meshing gears.)
That's a rare occurence, but still has happened.
3° the gears' rotational axles are not perfectly parallel .
This can happen simply from a sloppy adjustment between axle and wheel : if they "wiggle" on their axle they'll be noisy!
No exception here.
And it can often be compounded with the rubbing of the wheels against each other or against the motor body.
And that's the one that you can improve with the ball bearing on the motor shaft, at least for the motor's axle.
The rest of the gear train remains unchanged though
Thus, to cure the problem completely, you need to correct the meshing and alignment for **all** the wheels in the gear train.
I have even reworked some gears in old locos, adding an accurately adusted bronze bushing inserted in the gear or even cutting an all new bronze wheel like I did for my MS 800
And one more thing: no amount of "running in" will turn a noisy gear train into a silent one.
A little grease on rubbing surfaces will **temporarily ** improve the situation.
Hope this helps
Jacques