Gents,
While on an automotive archaeological expedition recently I found a '59 Ford sedan that still has the y-block in it. I gave the engine a quick once over and found that the valley cover has what appears to be a road draft tube mounted behind the carb and extending behind the passenger side head. Since I have a '55 Merc with the original 292 and I'm wanting to convert it to a PCV system, would this valley cover have the oil baffle on the underside? I'd like to know before I go to the trouble of removing it since the engine has been exposed to the weather and the intake bolts are pretty well rusted up.

That valley cover should have a baffle on its underside making it a good candidate for a PCV valve location.  When removing the road draft tube and looking in the exposed valley cover hole, you should see that baffle.  There is a PCV valve grommet out there that fits the hole perfectly and the only modification you’ll need to do is cut down and plug the threaded extension that’s in the existing hole so you have some room for the PCV valve to sit properly.

Lorena, Texas (South of Waco)

Cool beans! Thanks Ted. It's on the "to do" list for next weekend.