Well lookathat. The GM gasket does NOT cover the holes.
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But 30 seconds with a pair of scissors fully opens those holes. It's just paper, people.
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One other point - I seriously considered just buying new Dorman covers and not dealing with rusty factory ones. But the factory ones hug the ring gear much better, promoting oil pumping against the cover, AND the sides are shaped to channel oil to those big holes. OK, years later, case closed. We were all correct. The holes are for case spreading AND for lubrication. The GM gasket DOESN'T have holes but it DOES allow for lubrication even if you don't trim it.
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Several things to consider here - the importance of the OE cover design, with the magnet & stamped steps. Many have opted for a non-OE cover, some without either of these features.
1. The magnet on a drain plug won't capture near as much material as this (OE) magnet.
2. In Post #309, small holes are visible near the carrier bearings that direct lube into that area - though there is no photo in this series, the axle housing center casting has a channel in the top that captures and sends lubricant to the pinion bearings and carrier bearings. Essentially, all of these details describe the function of a pump, with the ring gear as the main character in a centrifugal pump, flinging lubricant outward and into the cast channel of the housing and to the steps in the stamped cover.
3. The stamped "step" on each side of the OE cover is a functional part of the lube system - the ring gear picks up lubricant while the vehicle is in forward motion, and constantly pushes it against this cover, which serves, to a certain extent, as a heat transfer surface (ie. cooling). Lube also gets channeled toward the 2 holes by the shape of the cover
4. Since gear lube is thicker than motor oil, and the amount of fluid in the housing is not as great as either the engine or transmission, the steps in the cover are to direct some of the lube out through the holes in the housing (those covered or uncovered by various OE & aftermarket gasket designs) - this will also create lubricant circulation out into the axle housing tubes, to force lube toward the wheel bearings, as well as further cooling effect of the lube passing into & along the housing tube itself.
5. I won't challenge the gasket issue, and we could conclude that GM acknowledged their error by re-designing the gasket at least twice since the B-body 8.5" axles were built. The FelPro gasket included a slotted passage for lube to pass, so maybe they realized something that GM had missed. I often have wondered if that slot was to meter the flow, instead of having the path "wide open" between the lube reservoir (diff cover) and the rest of the axle assembly.
6. A vehicle in motion does derive some movement of lubricant through not just pumping actions, but also in turning left & right, on angles (road surface not flat), etc (ie. sloshing). If there was a wheel-bearing seal leakage issue, or concern, there could have been a decision at some point to use the cover gasket to limit or stop flow via the diff cover step & housing holes, to stop or reduce lube going out into the housing tubes, to "fix" a bearing shaft seal leakage problem.