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This is what we started with, a pair of FE valvecovers with the embossed "Thunderbird".  We made adapters to bolt these to the 351 SVO heads on our new crate motor.  We're going to eventually have a black valve cover with chrome letters.

First thing we did was have them plated.  We told the plater to make sure the letters were perfect, but the rest of the valve cover didn't need to be.

We then lightly sanded the letters and applied several coats of clear over them.  We then taped off the letters and sanded the rest of the cover so the primers, etc would adhere well.

Here's a shot in the final stages of primer.  It's been blocked once before and after this time will be ready for paint.

We now sprayed the entire cover black.  After this has dried, we will carefully sand back through to the clear on the letters.  This will give us the chrome letters with the rest of the cover in black.

After we sanded the the letters back to the chrome, we cleared back over the entire cover. 
Here's the completed cover after wet sanding and buffing.  George is really happy with the finished look.