After further assessment here is where I stand:
I took some stuff apart and think the leak is most likely coming from the lowest and furthest outboard bolt on the back of the water pump, don't know if that conjures up the right visual or not, but I'm pretty sure its coming from the water pump - there is a visible "wet" trail from there down the block.
edit: I know its not the head gasket - I did it 8 or 9 months ago and my original mileage was off - its been more like 15k mi since it was done.
I did take the reservoir cap slightly off, as in the 2nd position and it seems to have really lessened the leak big time.
The main issue here is not whether I can fix the car, but its whether I want to fix the car. I'm moving to DC in a couple weeks and won't be needing a vehicle (metro). Its just disheartening that the benz couldn't be good to me for another 2 weeks.
So this brings the next question - who wants to buy my busted benz? lol