Thanks to everyone who offered helpful tips and insights. Yesterday the dealer agreed that one exhaust pipe should not drip that much condensation and soot. They tightened the clamps on the junction of pipes just behind the differential, and they discovered a pinhole in a weld just aft of the catalytic converter. So they sent the car out to an exhaust/muffler shop and had them weld that leak closed. The car has 4,000 miles now, so they fixed everything (plus replaced a $500 battery) all under warranty, no charge. I'm a happy Jag driver...

 

Buying a car from a non jaguar dealership is a problem. Their inspection of the car lacks the special jaguar experience