I finally have been able to get rid of the noise.
I took out the pin and held the pads in with my fingers, rotating the wheel. The noise hasn't been as loud these past two weeks, but I could still feel some sort of rubbing at a particular point on the disc. I then took out the outer pad (calculating the friction-noise was on the inside pad).
Not being sure if it was the disc or the pad, I took the finest glasspaper I had and gently rubbed the area of the disc that may (or may not have) been the problem. I then took out the inside pad and noticed there was quite a gap between the backing and the rest of the pad (see photo). I did drop the pad on my workbench - a few inches - when I first installed, also I could've bent the backing during initial installation. Not sure.
I gently finger-bent the backing back to its proper place and applied a light schmeer of copper grease to the back of the pads (the sides that touch the calipers/pistons), and I also lightly greased both sides of the white baffle inside the pads, basically making copper-grease sandwiches. I also greased the pin.
I sprayed brake cleaner on an old T-shirt and cleaned the rotor.
Now we're back to normal.
BTW: I had to buy the copper grease from Amazon. I tried to get some at my local NAPA on 4th Ave South in Georgetown (Seattle, not DC). The dimwit know-it-all-know-nothing behind the counter didn't even lift his nose out of his newspaper and said "I've never heard of copper grease before", turned the page and kept on reading. I expected better from NAPA.