An oil drip you can live with! Let's hope this all holds long term.
Did you just do flushes of the oiling system to get the water out? I ask as I am working on an Opel 1.9L right now that had coolant in the oil..... not as bad as yours though. We have done the alcohol and diesel washes (1 alcohol and 4 diesel washes while slowly turning the engine over by hand and running the oil pump with a drill for each wash). And fresh cheapo oil at this point prior to start up, also primed with a drill while turning over by hand.