When I let the clutch out on my "12" Wide Glide everything feels and functions fine, but the lever at full release (with my hands off it) can be pushed another 1/4 to 3/8" out to the stop so the lever is in the fully released/open position.

Normal or not? No slippage is evident.

 

It sounds like you have to much freeplay and need to readjust your clutch cable. You should only have 1/16- to 1/8-inch free play at the clutch lever.

 

Yeah, pretty common on a brand new bike, the cables stretch at first few thousand miles of use.

 

the adjuster is under a rubber slip cover by the front down tube

 

Thanks guys, I see the adjuster. Is that the only function of the adjuster to take out slack?

 

yep, thats the only reason for that adjuster. Adjust it so that when you pull the cable housing away from the lever it should be 1/16 to 1/8 between the end of ferrule and lever like posted above. Then snug up the jam nut and away you go.