Chris,
I rebuilt my 87 a number of years ago and it's worked fine ever since. I've only done one rebuild and have had the bike almost 25 years.
If I had to do it again, I'd think about the converting the stock petcock to a manual, but I'm not sure that would address your leak.
When mine was leaking, I seem to remember it coming out the weep hole on the back of the petcock but I could be wrong.
Jim