The valve covers with the "vent slots" were dangerous when used with the stock (1954) 3100 exterior-air-vent that have a drain tube that "emptied" over the valve cover.

That year valve cover had openings/slots in the top of the valve cover. When driving in the rain, water coming in through the air-vent would drip onto the valve cover - going inside the valve cover over valve-tappet-assembly.

I have added a short extension hose on my 1954 engines - this directs the drain-water down the side of the valve cover.

Or, use a valve cover that has no slots in the top (a valve cover from a 1954 engine that had a PCV set-up/valve; or a valve-cover from a 1955-1st engine?).