Ron,
I had this problem when I installed the rebuilt 383 in my 60 Fireflite. Apparently the crank had a burr that scored the rear seal and it leaked. I generally do not like to separate automatics from the engines in the car because of converter alignment difficulties upon reinstall, but this car was a stick, so pulling the tranny in place was no great hassle. This was over 15 years ago, but as I recall, I shored the engine to avoid excessive twist to the motor mounts when the trans was removed, then pulled the front cover, timing chain, pan, and then dropped the crank far enough to replace the seal and feel around and find the burr and file it smooth. I was concerned the filing might not be enough to stop the leak, but it did and I never did have another problem from it in 40,000 miles.
Brent
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