Thanks again, gregg3gs; you nailed it. Gasket was cracked. What a royal pain to get at!!!
For those who are watching a slow drip, don't put it off. I made a note about a small leak at my last oil change, which was less than 2k miles ago. Given how dramatic the leak was, I feel very fortunate to not be doing a full engine rebuild. As catastrophic a leak as I have ever seen. It was literally a stream coming out, not drips.
Also, I did manage to get this done without lifting the engine, dropping the sub-frame, or pulling the front differential. I used a ground down socket, reduced to 1/4" drive. No universal joint either. Just a short 1/4" drive extension (see picture). Still a terrible job, but not nearly as bad as hoisting the engine and separating the front drive gearbox.
https://fbcdn-sphotos-d-a.akamaihd.n...4a6579f707253d
Good luck to you all. Let me know if you have any questions. And thanks again for those with the expertise to point me in the right direction.
If you're taking this job on, check out
this Pelican BMW tech article. I found it very useful.
Thanks for this as well. Going to put all new O-rings in all of the tube joints and will double-check they are secure.
Cheers!