Hello again!
After adjusting the massively-out-of-whack idle screw (thanks ekpent!), the bike idles at a comfortable 1.2k RPM.
The bike runs and rides (woo!), but thoroughly marks its territory down the road (boo!). The oil level was fine after a few miles, but I'd rather the bike not leak on the road. Of note, the bike does not leak when idling in the garage, and old oil residue on the rear swing arms suggests this is not a new problem—perhaps it is part of the reason the previous owner left the bike to die in a barn.
After noticing the trail yesterday, I narrowed the leak down to
this mystery component and its connections. The part is located directly under the battery (bolted on a bracket to the battery holder) and is positioned to the left of the oil reservoir. Tube #1 brings oil from the oil reservoir to the part. Tube #2 brings oil to the top of the heads. Tube #3 brings oil to the transmission area.
I noticed two odd things: 1) Tube #3 had a bolt clamped in it

, and 2) another tube was on the transmission area nipple where I am almost certain Tube #3 connects to. I removed the bolt, connected the bike to the transmission area, then took the bike for a quick ride. Much less oil dripped from the bike, but it still had residual drips at the end of the ride and continued slowly dripping for about 5-10 minutes.
I can't seem to find anything online or in my Clymer manual regarding this part, so...here I am.
Does anyone know what the part is? I greatly appreciate any and all help!