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Hello Ken,
Had the same problem and cured it by tightening the manifold in the correct sequence, loosen of the hot box nuts and the manifold to block nuts, then tighten the manifold to block nuts first from the centre out. Finally tighten the hot box nuts( inlet to exhaust manifolds )
The hot box nuts need to be fairly loose when you tighten the manifold to block.
Hope this also works for your engine.
Regards Pepe.

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Howard, it is definitely not a one piece system! There is an exhuast pipe to the first muffler, an intermediate exhaust pipe between the first and second muffler, and then a tail pipe. So lots of joints! Could explain the intermittent nature of it too. Thanks for the idea!

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Pepe, that is how I installed the manifold, but perhaps it would be worth it to try that sequence again, thanks!

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Howard is the winner, or at least partially. I did find that the hanger behind the muffler had come loose, which was allowing the rest of the exhaust to flex too much, which caused the joint between the exhaust pipe and front of the muffler to start leaking. I fixed all that. I still noticed a minor exhaust leak when I drove it today, but it was definitely quieter when I first started driving it, so overall an improvement.

I did notice some ticking today that seemed louder than usual when I had my head under the hood looking for exhaust leaks. I wonder if I should adjust the valves again. I have already put 2,500 miles on the engine since I did the in-frame overhaul in 2020, so it is probably time. I was also looking at my records, and it's about time for an oil change too, so maybe I'll do it all at once.

On the water pump: I have an oiler on the water pump for the bushing that sits behind the packing. Am I supposed to use grease of some nature there, instead of just motor oil? Or is there a special oiler with a check valve in it? [The parts book does call for an oiler, P/N 300072] The reasons I ask - my old water pump had a grease zerk jammed in where the oiler should go. When I replaced the water pump, I put a spring cap oiler in. Now, every time I put water in the radiator, it pushes whatever I add right back out of the oiler. I put just a little bit in the top of the radiator yesterday afternoon, maybe a pint, so that I could see anti-freeze in the top of the tank. This morning, all of that coolant leaked out of the oiler and all over the floor. It seems to find an equilibrium when the static height of water is just below the upper hose connection in the radiator. The upper hose is still full (I have a gano filter installed so I can see it). Any thoughts?

Last, I finally installed the USB charger that BigKev is producing. 5 stars review. I used one of his provided terminals, for the ground wire, and one with a smaller ring for attached to the keyed terminal on my ignition switch. I wanted a low profile installation, so I used the provided 3M strip on put it on the steering column just behind the clamp, so it's nearly invisible. Works great, and charged my iPhone perfectly! Again, 5 stars!

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The lubrication instructions just says to use 20 or 30 wt motor oil for the water pump oilers. If water is leaking out an oiler and it is a stock type pump then from what I can see in the water pump detail from the owners manual, the oilers should have bushing material on either side of the oiler to prevent water from ever reaching it. If water is coming out I would wonder if the shaft or a bushing at the leaking oiler is badly worn or if something is installed incorrectly.

Presume it is the rear oiler that is leaking and if so, I can't tell from the illustration if the bushing is just the narrow sort of shaded area directly under the oiler or if it is the entire wide item between the packing and impeller hub and the shaded area is just for oil distribution. If it is just the narrow item, I wonder if it was pressed in the correct distance or if maybe part of the oiler was left exposed to water. While a grease fitting might prevent water loss, it still would not be right and I would wonder how effective greasing would be if a good portion escaped to water rather than being forced to where it should be going.

If it is a repro pump then maybe it is different from the original in the illustration but water still should not be able to leak out