If the seals are failing it will be somewhere between "just slightly wet" and a steady stream leaking out. If it is not enough to form a drop of fluid then you are probably still OK, but keep an eye on it, when it is up to temperature and running is when it is most likely to leak. This is the way it works: the engine water pump impeller is bolted directly to the end of the cam and there are two seals that keep the coolant out of the crankcase. The weep hole drains the space between the seals. The system is pressurized just like in an auto, and eventually the first seal will fail. When this happens the coolant under pressure will leak past the first seal, and leak out of the weep hole. Since the coolant is no longer under pressure it will just dribble out and the second seal will keep it out of the crankcase. If the weep hole is plugged the coolant is still pressurized and will eventually leak past the second seal into the crankcase. In any case if you are not seeing any significant leakage it can wait til the off season.
