Some background on my issue:
Oil or Soot Leak at Front of Engine
I've been through the process of replacing the oil cooler, and in the process found that the t-stats were stuck open from their rubber bases getting pushed up through the housing. I figure this must be from the oil pressure pushing them backwards?
Anyway, I started the process of flushing the oil out of the cooling system, and upon filling it with water/Simple Green, I found the same leak as before: water seeping in a steady stream off of the crank pulley coming from just above the pulley (and out of sight). I know old water pumps used to have holes in them that would leak when the pump went bad, so could it be a bad pump? Maybe the oil pressure broke a seal somewhere? Any other ideas?
It should also be noted that I have no water appearing in the crankcase at this point.