Update:
One of the rubber pucks came off, causing the flood of oil. Reason: heat due to camshaft damage: cam, right cam holder and the four rocker arms are trash (all new parts). Reason: oil starvation. I have no clue why. I thought, perhaps there are two different towers, and I installed to left ones. But this isn't so. Looking closely at the set up though, I am not sure how oil pressure is supposed to build. But it worked the previous 37 years. I don't know where I went wrong.
Oh well. I ordered the parts already, F2 cam is on its way too (do I advance it by 5 degrees or not?).
I take off with the family to go to South Tyrol tomorrow for a week (spring break), taking the BMW RR while the wife enjoys the trip with two teenagers fighting each other in the car. I keep you updated on my progress after the trip. Perhaps, one fine day, I can actually tell you how the F2 cam runs in my K7. First, however, I have to figure out what has happened to end the life of this web cam so prematurely. As always, any input is appreciated.