I removed the wheel tonight to examine the other side.
Here are pictures:

It looks really dry in there.
I also discovered, while ordering parts, that the early, round-case final drives did not have o-rings on the brake actuator shaft!
I have heard of the shafts with two o-rings being modified to take 3 (or something like that). I wonder if the earlier shafts can have grooves machined into them, and work?
BTW, I have almost 87,000 miles on the bike. The final drive was taken apart when I had the drive splines renewed back in 1998 at around 60,000 miles.
It's just old...