Ok, I think I have arrived at solution to the frothy oil. Unlikely to be a coincidence, but who knows.
Here goes. Feel free to disagree - almost everyone else has. First, there was no contamination according to the champ who fixed my bike. This bloke is an acknowledged guru and someone who has problem solved for me before. Second, with the new cylinder on, I rode home about 30km, doing the roll on, roll off blah blah. Frothy oil.
Today, rode up through the Adelaide hills to Lobethal, about 35 km of up and down hill and tight corners, not babying the bloody bike at all, but stopping short of hammering it. At the Lobethal bakery - what?? - hardly any aeration. Home the same way and there's even less.
Seems like worn cylinder/piston/rings and new, unseated rings caused enough blowby to increase crankcase windage to an unacceptable level. In any case, I'm happy.
Bear in mind that I've spent 1700 hours fiding this bike now, and I know what the oil looks like when I stop the engine. My ancient and loyal TTR250 has never aerated its oil in the window (now about 75,000km and f*&% know how many hours - I guess about 4000 - and still doesn't).
In short, it seems that Elm was right. A cylinder leakdown test (as distinct from a radiator leakdown) might have been the clue.