Is the black box with the fins on it mounted on the low corner of the frame behind the front tire an oil cooler? I have a 98 XL1200 that has a slow oil drip. It looks like maybe this is an electric cooler and no oil actually goes into it, but beads of oil collect on it before it drips to the ground. Where could the oil be coming from?
No, that's a voltage regulator. Don't know how you could have an oil leak there. Any leaks from the motor at all or maybe grease dripping from the steering neck?
May not be the problem but did you check and clean the air filter. I had what I thought was leaks on both sides of the engine turned out it was because the air filter was stoped up and building up back pressure. I had oil dripping out the inspection plate of the transmission. Clean air filter took care of all my problems.