I guess the only real question to be answered here is if anyone has had long-term success with a temporary repair (rub on goo of some sort or another) of the original problem.
There are a couple of other threads on this subject (as those of us who faithfully use the Search function first know) in which the proud owner, as opposed to the previous owner, smeared either MarineTex or JB-Weld around the area with at least temporary success, which begs the question again - did it hold?
I'm also a bit interested in the response about the 350 plug, is there a similar alignment stub on the 550's case and seal that might be removed to make this a repair that can be accomplished without splitting the cases?
Oh, on that Search thing, when I was doing a search on this subject I also ran across a bit of discussion about the purchase of a set of sprockets and chain in 520 (I think it was) that were special ordered for the bike; the when and where and maybe even the cost, were mentioned. I didn't keep a link to it, I think it was Sprocket Specialists, but just to let everyone know, they are available.