I noticed today that my rear derailleur hanger/dropout  is a bit odd, if i put the bike in the 53/12 the chain rubs on the hanger. If you release the skewer it looks ok but as you tighten it it pulls it in and is no good.

I took the rear hanger off and it apears straight and the bike has never been crashed. It looks like the joint that connects the frame to the dropout is bad. there is a slight gap but i guess enough of one that it could cause this.

The shifting on this bike has never been up to par but i always just dealt with it, it is getting a bit annoying though. i purchased the frame new from Excel sports but my local cervelo dealers are kind of useless when it comes to this stuff.

Anyone have any ideas/comments, etc. 

Here's a few pics, they arent that great though.

 I just got an R3 (and I love it), but the RD shifting (I use Campy, like you)) has been less-than-perfect.  I think the derailleur hanger is somewhat flimsy relative to some others (which seems to affect shifting for Campy RDs... the Shimano RDs don't seem to be affected, because of the "lighter action".... or however you describe it). 

 I did some research and this seems to be the solution.  Perhaps replacing your stock RD hanger with a stiffer one will correct the problem (and it's not expensive).   I plan on replacing mine... the one I linked you to has been recommended to me.  (I own a ShimaNO to Campy conversion cassette from them and it is of very good quality and workmanship).  Hope it helps.

PS, the hanger looks a little bit bent... well, flexed is a better word I suppose (the chain seems to clear the dropout in pic #1)... and if you use any spacers for the cassette, perhaps removing one or two would help (provided you have the clearance for the cassette to spin freely).

It does look a little bent. Your LBS should be able to check it. There is a special tool they use to align the hanger (even if you get a new one, this should be done). Takes about 5 minutes to do. You might check that your cassette lock ring has not come loose and allowed the cassette to slide out.

I don't know if I could tweak my hanger over that far if I tried. And if I could, I don't know that the DR would shift.

Sorry if this is a dumb question, but are you sure the cassette is properly installed on the hub body?

Here's mine.

 It appears form the pics, that your der hanger is slightly bent. You will need to have it aligned with a der hanger alignment tool. If you have no experience with this sort of alignment (especially with aluminum) I would recommend that you let an experienced mech at your LBS do it. The integrity of stock Cervelo rear der hangers is a known issue that has been talked about on this and other forums, but there does seem to be some disagreement and misinformation out there on whether an integrity issue really exists.

see http://weightweenies.starbike.com/forum/viewtopic.php?t=48452&highlight=cervelo+hanger

http://www.bicycling.com/gear/detail/0,7989,s1-16-156-1669-0,00.html

After purchasing my  R3 a few months ago I noticed that the shifting was really sloppy even when my der was properly adjusted. I removed my der and attached my alignment tool and found that the hanger was substantially out of alignment (I had aligned the der during the initial build as well). I rode the bike again and after only one ride the shifting issues returned. I did some research on the web and found the references above. I reported the issue to my dealer and requested a new der hanger and they indicated that no one had reported a similar problem, but they also confessed they had built very few Cervelos equipped with Campy. It appears that this is an issue that is more consistent with Campy equipped Cervelos due to the slightly more powerful shift (or wire pull) on the Campy ergo shifter. While in the shop I noticed that all the Cervelos on the floor had the same flimsy hanger, which upon close inspection appears to be stamped alum (which explains the flimsyness).

Unfortunately, I had to wait over 6 weeks for a replacement and while I waited I purchased a Wheels Manufacturing hanger. After installation, I had to make a small align adjustment, but the new hanger has solved the issue and my shifting is the crisp and accurate shifting that should be expected. The Wheels Manufacturing hanger is significantly different then the flimsy Cervelo hanger. It is obviously a machined pieced of alum and not stamped, and more importantly it is thicker, both at the frame clamping area (4.6mm v 4.0mm) and on the hanger end where you attach the der (8.4mm v 7.8mm).
Interestingly, I finally received a replacement hanger from my dealer and it is identical to the Wheels Manufacturing hanger that I had to purchase (machined and thicker)…perhaps Cervelo has finally addressed this issue??

Good luck,
EM3

Looks almost like there is a spacer , lock ring or something missing when the cassette was put on, as ithe body of the RD is way too close. I have a Campy Chorus R3 and never had a RD issue , only clean shifting

djbowen - I had exactly this issue with my R3 (2007 R3 - red/black, 2008 Chorus UT groupset, Neutron Ultra wheels and a Chorus 11-25 cassette).

After quite a lot of research and investigation I came up with the following solution (which may look a bit hokey on the surface but works really well - I've cover a few thousand k's without issue since). Here's a link to the discussion: http://forums.cervelo.com/forums/p/1741/9812.aspx#9812

It appears to be a Cervelo / Campagnolo compatibility issue - annoying rather than serious - and given the other discussions around using Record with S3's it looks like the answer for running a Cervelo with a Campag groupset is to have a lot of washers! Still, a small price to pay for a nice ride.

Anyway, I got a washer from a local hardware store, they were kind enough to just give me the one rather than having to buy a thousand! I also invested in a rear derailleur hanger (Park Tool - not sure I would do this now, but I was able to get a great deal in the states when the dollar pound exchange rate was much more favourable) it does improve shifting having a dead straight hanger, so well worth popping along to your LBS and getting them to apply the tool - provided that they aren't patronising and tedious about the process.

Good luck and let us know how you get on.