Still my gut feeling is they had a power cut 1hr 45 into a 2h3 30min descent which may have left them drifting in Ocean currents. However im assuming their descent was by gravity ie draining the flotation tanks using the ballast weight to sink.
So in this scenario one would assume even with some ocean drift the Sub shouldn't be too far from the drop point resting on the seabed, although we don't know currents for sure. Anyone here know if this was the case and the Titan was descending by flooding the flotation tanks, which would be the most energy conservative way.
If for some reason they had power issues and were attempting to charge the flotation tanks before failure and only managed almost zero gravity they could be anywhere now.
Maybe if the banging noises were just 'sea noise' then perhaps it did just compress to nothing and implode, in this scenario, there might only be fragments left on the seabed near the main wreck.
If the hull is still in tact and found i have no doubt there may well be some pretty harrowing mobile phone footage kept in a diary by at least one of the crew.
May their maker rest their souls. (ps the jokes above aren't funny yes it's too soon, esp for the young lad on board who had his whole life ahead of him)
PS one last thought if you're interested have a read about AF447 over on Wiki, iirc that took over 2years to locate the fuselage and black boxes in similar depths, albeit more rugged terrain sea bed, but that was a much larger structure and 100% had sunk.
Edit - I see USCG has just tweeted they've foud some debris has near the Titanic wreck which been highlighted for closer examination. Sounds ominous as i reckon this is the French ROV with a very experienced team.