Thanks all!
Martin, you were spot on...
After trying (in vain) to find a Display Controller selection that would work (and/or SOME documentation on what LCD is used in the Maker Select/Wanhao), I stumbled upon a write-up on making the Wanhao LCD work on the RAMPS board (showing the pin-outs).
I then looked into pins.h (in the MOTHERBOARD == 63 [the Melzi board]), and found that the "LED_PIN" is set to 27, which (according to the write up pin assignments) is the BEEPER on the LCD board.
I changed the LED_PID to -1, and Voila, no more noise!
Yes, it would be nice to know what pin on the Melzi board corresponds to the LED, but I'd rather have NO LED and NO High Pitched squeal (especially considering with LED_PIN set to the BEEPER, I probably am NOT getting the expected LED indicator anyway).
Again, thanks for your help!
Oh, I used the "RepRapDiscount Full Graphic Smart Controller 128x64, RAMPS, Rumba, Megatronics 2 & RAMBO" selection.
p.s. Might be nice to the pins.h updated, don't you think?