big effort difference between dropping the subframe and taking the whole engine out, but I am thinking that at least one of my cars will soon have the engine out, mostly to do the clutch, maybe to do a differential, but mostly to clean everything up. It's actually not hard at all, I hear - under 90 minutes if you have a little practice
I think you've figured it out at this point. But, as confirmation, I had a similar leak and YES it was in fact a leaking timing cover gasket. Its a simple fix, cheap, and you can do it without pulling the motor -- takes longer to pull all the pulleys off than replacing the gasket. The gasket is super small (thin, round) and fits in a grove. I also replaced the oil pump seal rings ( 1 lower and 1 upper) and front main seal. Its all right there in front of you. And, note a few of the cover bolts have small sealing 0-rings. Good luck with that.
@Canusrufis Thanks! I thought it was odd place to have a leak but knowing someone els had the same problem is good confirmation. Good to know its not a hard job.
I say pull the engine and build it into a HP machine.. (note I give bad advice....). I pulled the 88M5 engine “because” it had a small oil leak in the back. Striker crank, bigger valves, customs pistons, custom tune and a few years later (long story...) I think I’m a few weeks from putting it back in. However if calculations are correct, will have considerably more torque, longer power band and will be putting down ~340whp.. We will see... So again - build it “while you are there”
@Sully I think you give great advice, my wife might not think so but I do! What I need to do is pull the engine and send it to Jan at RMW and get a stroker motor!