I have my 12 bolt on the bench and about to change the bearings and seals on the ends. While most of the oil has been drained, I kept some in to avoid rusting while it's all apart and axles out. What I have found by moving it around and putting it in different positions is that the seal on the pinion gear shows trace oil when the cover is up and the pinion down. This is not drip, drip etc. but a slow trace parth down the housing and it is definately not out of the vent or anwhere else. I was going to change the ring and pinion from 3:31 to a 3:73 eventually but for lack of money decided to leave it as is for right now. Question, does anyone think this is a problem when the rear is filled with oil to capacity and leveled out on the chassis or should I go full monty and change the rear now and put the other gears and seals in prior to reinstalling on the frame in the springtime. It's about money right now.
thanks,
Roland

Just change the seal.
It's not hard and you don't need to change any settings.

Info might help - http://www.chevelles.com/forums/showthread.php?t=260141&highlight=change+rear+end+seal

The leak as describe sound more of a nuisance than a problem. Occasionally check the level and top off as needed until the funds are available for the gear change. The seal can be changed as stated above.

Changing the seal now would be easier than changing it under the car. Do a search on this sight for pinion seal and use my name in the search. You will find complete instructions on how to do it.

I would at least change the seal, no reason to disturb anything else. But make sure it's not just running down the splines of the pinion gear and out by the nut.