Almost all throwout bearings are a multi piece bearing. The one face presses
against the throwout fingers and rotates with them. The change in rotation
takes place internally, often with a set of balls. It's quite possible that
you are hearing squeaking or rubbing from dry bearings. I wouldn't expect it
to be the sound of the throwout fingers sliding across the face of the throwout
bearing, that sound would be far louder and more strident.
A lot of travel is often indicative of a worn clutch. Typically, as they wear,
the pedal goes down. But with hydraulics, air in the line is also a distinct
possibility. Check also for fluid leaks, particularly at the master cylinder.
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