Heres a pic of where it's leaking from, as best I can tell. Pic was taken with phone though, so not the best quality.

http://img186.imageshack.us/img186/1889/img00650gm3.jpg

It smells like motor oil. The car starts up and drives fine (only driven it like 30 ft total). Not really sure what to think. =/

 

It's wierd to have motor oil comming from there. Are you sure it's not nasty gear oil? It looks like the drain plug on the transmission might not be tight. A couple of other suggestions; loose axel seal, loose oil pan seal.

 

Oil from my leaking valve cover runs down the back of the engine and drips off right there since it is the lowest point. Also if you miss the oil fill hole and pour oil all over the place it runs that direction...made me think I had a leaking rear main seal but it was ok.