That's correct - don't try to tighten the pushrod seals by moving the retaining ring!!!!
Ride the bike a while and see if the pushrod seals still leak. They have a tendency to weep if the bike sits for long periods, but seal back up again with use.
I'd say you got one helluva deal! You practically stole the thing!
Wanted: Dead, smashed, crashed or trashed gauges
BMW GAUGE REPAIRS - TACH*SPEEDO*CLOCK*VOLT METER *PODs & LIGHT BOARD*