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BTW - What model? 240?
The location sounds like a rear main leak, but don't jump to conclusions. Are you sure the valve cover gasket isn't leaking in the rear? What about the tranny cooling lines? If cracked they will leak in the same general location. Eliminate all other possibilities first. Been down this road myself....
The perforated cover accesses the tranny only. If a leak is coming from there it is a transmission leak.
Make sure the intake manifold nipple, the flame trap and all its associated hoses are clean and air flows through them easily. If the hoses/trap are old replace them.
Long story - short version. I thought for sure that my rear main was done about 100K ago. After multiple flame trap/hose cleanings I discovered that the small hose from the flame trap to the intake manifold was indeed clogged. Initially thought it was okay. Moral of the story - spent .60 on a new small hose that probably saved me about $700. Hasn't leaked since - Yahoo!
Oh yeah, the original rear main seal and tranny are still in the car :)
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93 850GLT 107k, 90 244DL 285k and running well again :)
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