Yes, that is correct. You would have to run a large enough spacer to clear the intake manifold. But this all also dependent on your intake manifold. I personally have a CHP spyder intake and can use which ever valvecovers I want. Just depends on your intake.
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Ryan
1990 Mustang GT (In Process)
1993 LX Coupe (Daily Driver, but just choose not to)
2005 Excursion (Big Pig)