Split the cases finally. Took forever (who knew you had to remove the pistons to get the top case off? selective reading, of course). It was dark already so I wasn't able to look at everything, but a quick glance revealed the primary chain has about 1/2" of slack, and one of the con rods has a ton of free play on the crank. I couldn't see anywhere where the primary or cam chain ate into the case (will be 100% sure tomorrow), so is it possible the amount of shavings in the oil pan is from the bearing getting gradually chewed up? What are the bearings even made out of?
Thanks for all the help so far guys. Will post more pictures tomorrow as well.