Ok, the weekend is here, I have taken leave from the ward

and have decided to get to the bottom of this. I could ignore the problem for now as the bike seems perfectly rideable but what the hell, I might as well get to the bottom of this now. The rest of the bike is just so oil tight.
Perhaps more important, last time I removed the alternator, I noticed some ‘black rubbery soot’, sitting at the bottom of the engine (wet) side of the alternator, which frankly should not be there. Could this have anything to do with the weep?
Removing the alternator as a unit was as easy as undoing three 8mm bolts.
Sure enough the ‘black rubbery soot’ was there again but very little of it, if any.
The alternator itself was then split as carefully as possible not to erase any evidence of oil seeping through it. Sure enough, I could verify - no question about it – some oil, very little of it, was making it past the ball bearing.
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Some of it was escaping out of the drain hole as already observed, while some of it, was mixing with soot (carbon from the rotor brushes?) to end as a very light black oily smear, spread just about everywhere in there. Not good …
So how was oil passing through from the wet to the dry side?
Once I managed to undo the nut holding the alternator side clutch, and have the clutch plate lifted, the answer became obvious.
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The fat and elaborate oil seal designed to keep wet and dry separate, was sitting ~1.5mm proud of its intended ‘nest’. It was thus not only not doing its job properly, but had also self destructed by rubbing against the alternator side clutch plate.
Eureka! This 100% explained the black rubbery soot and how oil could make it to the dry side of the alternator.
In fact one could see clearly rubber from the seal sort of ingrained on the periphery of the neck of the clutch plate, on its way to becoming disintegrated and falling below as the infamous black rubbery soot!!!
To prove my point beyond any doubt, I took a socket of the correct size and tapped the damaged seal. Unsurprisingly it moved in by about 1.5mm to seat flush in its intended ‘nest’.
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This is where I lose my CBX for 10 days (my Commando's laughing at the other corner of the garage), and David Silver (bless him) makes his money ☺
As a side, a careful inspection of the clutch plates confirmed they are in perfect condition and wonder if they ever slip.