A slot between the valve guide and the head might result in a vacuum leak or an exhaust leak, depending on which guide it is. If the head gets grooved, ream the hole out a few thousandths to smooth it up and use an oversized guide fitted to the hole for the correct press fit. Apparently, our high tech guys have never heard of an adjustable reamer, or anything else that requires a little common sense. They can brag about how much their equipment costs, however.
Jerry