Todd,
There are lots of pitfalls that you could fall into on your first FE build. That Hot Rod article covered several of them. The
oil return holes in the E-bock heads are only the first step to cure the valve cover flooding problem - you need to install restrictors in the heads as well. The easiest way to accomplish this is to contact Guessford machine and buy a set of their restictors - you just take them out of the box, drop them in place (in the
oil passage comming up thru the head under the second rocker stand pad) and then install the rocker arm assembly. Without the restrictors you will be wasting valuable
oil up there where it is not necessarily needed.
Next thing to look out for is oil leaks. FE's have a tricky rear main seal, tricky intake manifold, tricky timing chain cover and valve covers that can very easily spring leaks if you don't get them right. Don't use the cork strip gaskets that go under the intake at the front and back. Just apply a liberal bead of quality silicone. I noticed the article said they really did not need the head studs... and they are right... but with the aluminum heads you DO need to get bolts with washers (this is true of any engine with aluminum heads). You might as well go ahead and get ARP bolts because they have a reduced sized head on them (9/16") and if you use factory bolts, you CAN NOT get a socket on the bolt heads (trust me... when you start torquing the heads you will see what I mean).
Also pay close attention to the direction of the connecting rods as you istall them. You must have the piston in the bore correctly (with the arrow or notch pointing forward) AND the chamfer on the side of the rod must face the outside of the rod journal on the crank. The best way to get this right is to look for the oil hole in the top of the rod (in the piston pin bore) and be sure this hole faces the inside of the block as you insert the assembled piston/rod. Since you will probably be using Speed Pro pistons, they are installed using keepers rather than spiro-locks, so if you have to re-do one or two it's pretty easy.
If you are going to use the cam they used in that article, do not run the springs that come on the completed E-bock heads. They are not very good springs. If you stay around .575" or less on the lift, they should work fine.
Pick up the book called "how to rebuild big block ford engines" (or something like that) by Steve Christ. It is a great reference book and goes through the assembly procedures step by step. It will save you lots of trouble.
I hope your build turns out great - and have fun with it!