Couldn't possibly be that much oil from the exhaust guide and seal. During normal run times it would be pushed out the exhaust too fast to leak that much and when the engine is shut off the oil would have to defy gravity to go up the boss and down the valve stem.
I have the same leak. I think it's a combination of things. I think it's the cheap chrome valve cover (we have the same one... doesn't seal too well, does it?) and the air filter on the valve cover. I think I have bad valve guides and seals so a head job is in my near future (tax refund? Could do it now but the wife.... well... she says I spend too much on the car as it is!) but for now I'm trying to mitigate the leak as much as possible.
I was inspired by your wrinkle paint and decided to dig out my original valve cover and do the same last night. It's still drying so I won't install it until tomorrow. I'm hoping it seals up a whole lot better and looks good while at it.
If I like the look I'll probably paint my air filter lid with the same stuff and just have chrome accents on the engine.
The OEM cover seals much better than the flimsy chrome cover. I've been fighting it for a year now and I'm done. If this works but doesn't look good I'll buy a cast and polished cover.
I also plan on fixing that rats nest of plug wires this weekend as well as going through my carb again.
