I've decided to use the orignal oil valley cover on my 331 Hemi. There is a baffle near the front. There were a few pieces of rubber attached to the bottom of a metal piece. How important is this piece? Should I replace the rubber? I have some baffle material from my airplane that might stand up to the engine oil.
Yes, don't disregard the rubber! I don't think it has to be the correct Chrysler piece, but I am sure any rubber from a F-16 or newer will work perfect!
I think you would be fine either way. If you have the material, go ahead and replace the old one. The rubber is stapled to the metal baffle.
The rubber is supposed to seal the valley so the flow through the engine, from the oil cap to the puke tube (or PCV Valve), will spend @ least a little time going through the crankcase.