The gear selector is almost directly above the speedometer cable opening. Is it possible that the selector shaft oil seal is leaking and thus giving the appearance of a leak from the speedometer cable opening?

Nope, checked that.  Thanks, though, it would be easy to miss...

Actually I just had a thought. Have you recently refilled the tranny? If it is overfilled there is the chance some could come out the breather which is
near the speedo cable.

Yep, that's how it started. Since I have a 6 speed, it takes a bit more oil than the stock 5 speed. I wasn't sure how much was put in the last time it was changed, so I decided to add a little extra. However, it's not leaking from the breather (the breather is just above the the selector shaft cover below the clutch cable stop on the opposite side of the case from the speedo cable hole).

Check the cable itself. I replaced the seal a couple of times to no avail. The housing on the cable was slightly cracked and apparently oil was getting up inside there somehow and leaking out. Try a WHOLE LOT of electrical tape. :)

That's about the only conclusion that I could come to, but I just wanted to hear it from someone else. It makes sense - the speedo cable has a multi stranded core inside a cable housing, just like a throttle cable or brake cable on a bicycle. The stranded core is wound into a spiral, and since it rotates, it draws oil up into the housing, just like an auger on a grain elevator (sorry, Gramps was a farmer). Any breaks in the housing sheathing allows the oil to leak out.
<fast forward 24 hours>
Well, I removed the speedo cable (again), and after a nice bath in brake clean, I used a 2.5" piece of 1" diameter shrink tubing that I split and wrapped around the cable housing with some RTV. I used a few cable ties to secure everything, and then used a heat gun to shrink the tubing material and hopefully seal it up permanently. It appears to be working, so far. I'll know for sure in the next few days.

Thanks for the input guys!!

--Holland
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