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Shouldn't need more than one vent on a single valve cover. No idea why the original design had two. But re-routing some of that PCV hose mess will likely eliminate any crankcase pressure.

Do you specifically want coilovers or just want to lower it? Intrax, Suspension Techniques, and Eibach used to have lowering springs for the Monte. Eibach 3836.140 Intrax 25.1.024 Sadly, all discontinued, but Google did pull up a few webpages claiming to have the Eibach kit still. I wouldn't bet on any of them being legit, but who knows. Might have to do custom coil-overs using universal parts or do what I've heard a lot of people do and chop a coil off the stock springs. I don't know how they did it, but D-body Cadillac Fleetwood guys figured out what generic Moog springs get the desired lowering on those cars. Something like S10 front springs and Crown Vic front springs on the rear. No idea how they came up with that. Either a lot of trial & error or careful calculation comparing specs and such.