Jim (John here) -- Yes. Each valve had both -- the O-ring AND the umbrella cap. So little to no oil was lubricating the valve stem leading to excessive wear on the valve guides.
John
~ Peggy M 1949 Chevrolet 3804 "Charlie" - The Stovebolt Flagship In the Gallery "We make a living by what we get; we make a life by what we give." -- Winston Churchill