The NP203 transfer case showed a leak at the speedo cable. I unscrewed the cable and then the sleeve, and of course the speedo gear comes to see me.
The problem appears to be the sleeve. There's an internal o-ring like scrubber that seals around the shaft of the speedo gear. A new sleeve is AC Delco Part #326561. It's a discontinued part, so I'll have to get one mailed to me. If you look at the second picture, you can see the groove inside the sleeve where the scrubber seal goes. Mine was non-existent.