I rebuilt my petcocks shortly after getting the bike road worth about 3 years ago. Still today, with the octo-valve removed, and the petcocks off, they do not leak when I have the hoses disconnected. I would know otherwise because there would be very obvious evidence of eroding engine paint where even a single drop landed.
However, even after the rebuild they would initially drip a little. To fix it, I pulled them back apart, made sure the housing was spotless, polished the face of the valve that contacts the rubber thing with all the holes, applied a little grease (which is probably long gone now), and most importantly, I bent the little spring washer to apply a little more pressure to the valve when all assembled. After that, no leaks.
However, even after the rebuild they would initially drip a little. To fix it, I pulled them back apart, made sure the housing was spotless, polished the face of the valve that contacts the rubber thing with all the holes, applied a little grease (which is probably long gone now), and most importantly, I bent the little spring washer to apply a little more pressure to the valve when all assembled. After that, no leaks.
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