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WOW!!!
I was really off base with my assessment of the problem.
I outlined my problem to Eric (Planetman) and he suggested that it could be the seal in the shift cover (I have the long cover and short shifter). and the oil was running down the plastic cover and dripping out the little hole just above the flange.
I pulled the transmission and...right on the money! Though the seal was possibly good, the shaft was pitted from rust where it passes through the seal.
Strangely, it is only rusted on the top, where you can't see it. A little close scrutiny and it appears as though my shift cover sat outside upside down and filled with water causing the rust.
A new shaft or a new shift cover and this case will be closed.
-TR
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