There is ALWAYS a discussion on the right shade of gray. This a popular choice.
www.oldchevytrucks.com Part # PT115
Indeed, it appears that the 'correct' color is perhaps a matter of opinion and in fact may have varied greatly depending on where an engine was assembled (and then painted). There was posting here back in '10 on this very topic:
'51 Engine Color - Inliners circa '10 In my experience, I have yet to see an NOS part in anything but the dark blue gray color (side-covers, pans, valve-covers). That said, while the engine in my '49 had been repainted in the later Blue Flame blue - in cleaning and prepping it for fresh paint I found areas that were painted in the lighter gray (and it seemed to be the first coat).
To this day the Filling Station sells the dark blue gray color as 'factory correct' while Chevs-Of-the-Forties sells the light gray color as factory correct.
I have refinished my engine in the darker color because I prefer it and it goes better with the Monaco Blue body color of my Fleetline.
Ultimately, the choice is yours.
regards,
stock49