Knew I had a leak, well hoped I was rather than burning it. After a few drives it'd always be a little lower. My question now is, is this location on the engine supposed to have oil in it in the first place? Looks like it's part of the bell housing, but maybe I'm wrong. Does this panel have a name so I know what gasket part to buy?

Bad news. That is a cover for the torque converter. It doesn't have a gasket and isn't meant to keep oil in. If you are seeing a lot of oil there you most likely have a rear seal leak. A common problem on the Y-Blocks. It isn't terrible to fix but you will need to know how to do it or hire someone that has experience with changing the rear seals. It is not a job for the faint hearted.

Y's guys rule!
Looking for McCullouch VS57 brackets and parts. Also looking for 28 Chrysler series 72 parts. And early Hemi parts.

MoonShadow, 292 w/McCulloch, 28 Chrysler Roadster, 354 Hemi)
Manchester, New Hampshire

I know that I watched a video on YouTube that showed what's involved.  You could probably find it with a quick search.  

Don’t panic. My F code clone had one of the “orange” rear main seals that all failed almost immediately. Engine in the car and driving. My local experienced mechanic changed it with a Sneaky Pete. If I was younger, or he wasn’t around, I’d have done it. Should show up in a video as suggested.

This tools been around since I before I was 16, and I’m 75 now. So they work if done properly.

https://www.ebay.com/itm/282433611363?chn=ps&norover=1&mkevt=1&mkrid=711-117182-37290-0&mkcid=2&mkscid=101&itemid=282433611363&targetid=2512152189032&device=t&mktype=pla&googleloc=9191121&poi=&campaignid=21214286338&mkgroupid=161030074701&rlsatarget=pla-2512152189032&abcId=9407521&merchantid=101647546&gad_source=1&gbraid=0AAAAAD_QDh8q9WgO1tyRHD34Is-5AE3kN&gclid=Cj0KCQjwiLLABhCEARIsAJYS6unhsjgE9goolyZMc3V7-m-fekQST5OZVcbZujv7rjHQlLg4gWZVqkIaAvAnEALw_wcB

miker
55 bird, 32 cabrio F code
Kent, WA
Tucson, AZ

6 VOLTS/POS. GRD. NW INDIANA

I don’t know. Definitely orange in color, and silicone. I think Best Gaskets. It’s been discussed before. But I’ve not read of it being a 292 problem, only 312’s with the larger journals. But it was properly installed, not glued, and the Sneaky got it out and the new one in. Just loosened the mains a bit if I recall. But didn’t drop anything except the retainer.

miker
55 bird, 32 cabrio F code
Kent, WA
Tucson, AZ

Everybody seems to think the problem is the Seal itself. In many cases its the side Seals that leak. When I had my Engine out of the Car to re-seal and paint I redid the rear main Seal because it was leaking even after Someone else replaced it before I bought the Car. I checked the Crankshaft surface to make sure it was in good shape with no grooves or defects. Replaced the Seal with a new Neoprene Seal and offset the Ends so they don't lineup with Cap parting line. I then left the Cap slightly loose  so small Gap in cap-block. Instead of using side Seals I used "The Right Stuff" Gasket maker from Permatex. Fill the side Gaps and let a little get under Cap. Fill side Space fully and don't get any on main Seal or Crankshaft. Let sealant start to setup( 3-4 Minutes) and torque Seal Retainer to Specs. No way side can leak with Sealant in place.  Guess what? 4 Years later no leak from rear Main Area. This "fix" will probably only work with Engine on a Stand upside  down. I cannot take Credit for this. Someone else on this Site or another suggested it.

  

Mr Eaton’s article on the rear seal.

https://www.eatonbalancing.com/2008/09/10/neoprene-rear-seal-installation-for-the-y-and-others/

miker
55 bird, 32 cabrio F code
Kent, WA
Tucson, AZ

In addition to the side seals mentioned above, there are a few other potential leak areas that can contribute to the oily mess at the back of the engine. If you can view the forward side of the flex plate, usually that will show evidence of slinging oil if the rear main is leaking. Also, oil from a valve cover gasket and/or a leaking valley cover gasket can find it's way down to the lower rear area of he engine. These are areas that would be easier to repair before condemning the rear main seal. Good luck....

64F100 57FAIRLANE500

Give the Engine a good clean and get all the Oil cleaned ff. As mentioned the Valley Cover can also be a source of Leaks. Overtightening over the Years can lift the Edges. Not a great design.