I have just serviced my 33 and noticed that my Oil Filler Neck had a milky white substrance from the breather hole upwards, including on the Oil Cap.
Now I know what that substance means, Water in Oil, But, The Oil I drained had no water present in it, not a trace.
Now my engine temp never goes over 75 - 78 Degrees, and I have replaced the thermostat a few months ago, it runs pretty cool (literally). The coolant is clear never looses any, always at the middle level. No oil present either.
The engine works fine, no misfires no white smoke ... pretty weird (Thankfully
The thing is that here in Malta we always have 90% - 100% Humidity, its so wet that the cold hurts the bones and in the summer cooks you. I realized that the sustance was only present from the brether hole upwards, now on a Dual Carb Model it seams that the humidity is managing to get through the hole.
I cleaned it all up and changed the oil, and went for a spin. I cheched the Oil Cap and there was moisture again very little droplets (about 3) on the bottom of the cap. Maybe the heat of the engine is steaming out the condensation in the pipes or on the manifold ?
Any Ideas? Pretty weird but then again most engines don't have an oil filler neck as most engines aren't a Flat 4 Boxer !!