Sorry about the double post, don't know how it happened.

73Elsinore - thanks for additional notes.
Not sure if we're talking about the same motor. I was assuming Texholdem had an M103 or 104 (mine was an M103). The baffle inside mine only had 3 or 4 screws holding it in. just a flat metal plate with a crimped edge. The gasket is a U-shaped rubber strip that fits in a channel cast in the cover. The crimped edge of the baffle pushes into the "U". The Benz dealer found it in an exploded view and said it was the first one he'd ever sold.

I recommend having it boiled in the cleaner at the machine shop because not only does it do a great job getting most of the paint off but it cleans the inside as well. When you get it back all you have to do is scrape the remaining traces of paint and clean up the numerous burrs, creases wrinkles and flash in the metal.

The only fault I can find with the flat black idea is that matte colors tend to show every mark and scuff with even the most minor contact and oil tends to "darken" it where you try to wipe it off (stains burn off on an exhaust). I used a semi gloss grey metallic that gives a very nice look and contrast to the black air cleaner and predominantly aluminum castings that surround it.

Texholdem - Sound like it's already a dull weathered finish! It's really pretty straight forward, and you don't have to file off the imperfections in the casting if you don't feel up to it, it just makes it even nicer. Torquing the valve cover bolts is a pretty standard practice though LOTS of people just do it by hand, but they tend to over tighten them thinking it helps. The intricate shape, design and gasket thickness on these covers (as well as experience) is why I would recommend torquing them.
I highly recommend NOT trying to sand and repaint it in the car! (especially the sanding part sand and engines don't mix).