If you've replaced the flush valve and flapper, and the water is absolutely--positively coming from that spot, then one of 2 things:
1) The flush valve is not tightly sealed to the tank where it's screwed on.
2) The tank has a hairline crack or other damage at that point.
Actually, I'd be wondering if the leak is at another point, and just appears to be there. Is there any water getting on the floor or is it all going into the bowl?
Try putting some food coloring in the tank and observe.
Do you have another similar commode in the house? Try swapping parts between them.
Another thought: can you press down on the flapper and make it stop leaking? Maybe try setting a brick on it just to prove that the problem is the flapper not sealing to the valve.
[This message has been edited by rpxlpx (edited January 28, 2003).]