Motorcycle Repair: unusual breather discharge, crankcase breather, oil drip

Question
I have a 02 electraglide, FI, 22k miles, with stage 1, high flow, and perf. mufflers, all of which were done at new. Recently I have been riding dispite the lagging winter and no mater how hard I run it or how far I go my cam cover and pipes are covered with what smells like fuel and is visible mixed with a small amount of oil.  I thought maybe fuel was spraying from the throttle body and mixing with the usual oil form the breather and dripping out of the air cleaner.  However, there is a lot of discharge and is thinner compared to the common oil drip from the breather.  I bypasted the air cleaner by extending the breather hoses away from the air cleaner and found that the discharge is all from the rear breather hose.  The slowly dripping discharge is thin and smells like fuel.  Also if I rev the motor the hose lightly smokes when the motor throttles down.  The smoke is also thin and white.  This makes no sense to me.  The bike runs great and was checked late last year on a dyna and the tech told me "do not F*** with this bike"  The HP, Torque, and fuel curve were the very best one could expect from this common configuation.  I do not deal with the money-hungry local dealer but I am capable of top end overhauls (atleast I have done several evos)and I have a great machinist.  However, I am not tearing this motor down yet because I have never seen this problem before and I can not think of a cause.  Any advice is appreciated, you have been a big help in the past.

Answer
Your problem, I suspect, is one that has been plauging the new motors. You are getting blowby which is also picking up a little fuel and dripping.
S&S has a cure for this problem. Its called a crankcase breather valve. This should solve your problem.
Good luck and happy riding
Mike