Maybe my bike is an anomaly, but I had not milky oil, no wavy pleats on the oil filter and only occasional condensation visible in the sight-glass when the bike was cold. But that didn't stop the leaky water pump from shutting me down. When I finally pulled the shaft, I found a bead of coolant behind the water seal. Yep, there it was. Changed the pump shaft/seals and I've ridden her cross country with nary an issue.
Here's my advice - and I'm prepared to get flamed for this - carry with you an 8mm nut driver and sharp folding pocket knife. Unless you see clear signs of coolant contamination in the oil, wait till you have an issue. Here's what will happen: The low oil pressure warning light will start to flicker. If you ignore it, the engine will stall. You'll try to restart it, but all you'll hear is clackity clack. Roll the bike off to the side of the road, lay it on it's side, pull the oil filter cover off, pierce your knife through the end of the filter, pull the filter and discard. Replace the filter cover and ride your bike home (or to a shop) to have the pump shaft/seals replaced.
On mine, I suspect it was just a tiny knick on the seal or something.