I'd probably just use it as is until it is worn out and begins leaking. If it needs bleeding immediately that is a different story of course.

There are also kits for drilling out the bleeder and threading in a complete pipe threaded plug with a new bleeder in it. Your machine shop can do that for you.

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[SIGPIC] Diesel loving autocrossing grandpa Architect. 08 Dodge 3/4 ton with Cummins & six speed; I have had about 35 benzes. I have a 39 Studebaker Coupe Express pickup in which I have had installed a 617 turbo and a five speed manual.[SIGPIC]

..I also have a 427 Cobra replica with an aluminum chassis.