Interesting thread, Dub. Recently, I discovered that the Impulse has a "breather/collector" on top of the crankcase from the factory.
Inside the little black box there are 3 layers of flat filters, and when I opened it up, there was a lot of old oil residue in there. I've never seen anything like this before, but it sounds similar to what you have going on.
Bart
PS - Yeah, I'm totally tearing into the Impulse. Been keeping me real busy (and broke). Have a look if you want:
http://www.isuzone.org/forums/showthread.php?t=22593