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Have you done anything to you PCV system, it sounds like you are building pressure under the valve cover for that to happen. The oil on the head is not under pressure and the valve cover gasket shouldn't blow out.
Yep, that's the stuff / repair I've been talking about. I just couldn't recall the product name correctly and was mistakenly calling it alumiweld. The info mercials I saw, said that this product has a high tensile strength. I'd sure try using this product before going to the expense of replacing a head.
I know your problem stripped thread problem is fixed...
I broke a cetner bolt valve cover bolt in the in the head the TPI 350 vette motor I built for my Camaro. It was one of the two middle bolts so I cut the head of the broken bolt off, used glue to attach it to the valve cover. Then I torqued the three other bolts and I haven't had a leak in 5 years or 35,000 miles. I know you fixed the bolt issue and I know that the old small blocks are different animals than the LS1's but after banging my head against the wall for a month trying to figure out different solutions the easiest one proved to be the best one.
As for your gasket issue, like others have said your building pressure somewhere, the PCV system should ensure that there isn't any built up pressure in the block, so really your big problem is the PCV system and why it's allowing pressure to occur the stripped threads although important aren't the real issue.