oil leak revisited

[rob63mess]

My 30 roadster is running really well. The problem is it leaks oil very badly. I took it to a buddies house today and put it up on the rack. The oil is coming from the hole in the bottom of the flywheel housing. Is this the result of a bad rear main? I suspect we will have to pull the pan regardless of what the problem is. Can this be done with the motor still in the car while up on the lift? Any hints tips and advice is greatly appreciated as always.