also reason i think its leaking down around the bottom of the cover is well, i see little air bublies coming out

 

You can replace the o-ring that goes around the main valve cover,but it still could be draining down the vent valve cover to the front,then dripping on the exhaust. Just clean this area up thoroughly and see where it's leaking from. You possibly may need both the o ring and a new vent valve cover.

 

just found the part you speak of on the top of the plasitic cover, no oil leaking there... nice and clean

 

is the valve vent cover the aluminum piece? thats plastic from the factory?

 

Read the whole listing on the aluminum vent cover on Ebay! Especially at the bottom of the page!!

 

Read it all. Doesn't say much besides it replaces that factory plastic part however the whole cover assembly is plastic not just that piece. Maybe I'm
Not following lol. I've checked the outside of that breather piece and it's clean around it. Only place I see the leak is by the y pipe bubbling out of the valve cover. If the breather is leaking it would be leaking on top of the plastic valve cover correct?

 

"IF" the reed valve (#3) is damaged or stopped up behind the vent plate(#2) it could cause back pressure and cause the valve cover gasket (#6) to leak. I'd at least check the reed valve out and order it if necessary along with gasket #6.Dirt Cheap Yamaha, Honda, Arctic Cat & Polaris OEM Parts & Accessories – Cycle Parts Warehouse

 

Now I'm following you! Guessing the gas tank has to come out?

 

Yes the tank at least needs to be unbolted and raised up or removed to get to every thing unless you have very small nimble hands and not claws like mine..

 

so looks like the factory o ring was crushed in the 2 places it was bubbling out. Looks like thats the culprit. Unless someone has replaced it once before, previous owner didn't say anything and it was low miles/hours.

We were able to just pop the valve cover off and carefully work in the new o ring. Its a very exquisite act though mind you!

Putting it back together tonight, but that should take care of the issue, hopefully.