well the top two bolt holes on the early covers will NOT bolt up correctly, they are taller and YES you mostly have your chain binding up on the cover. Thats why LCE sells the DUAL CHAIN conversion kit which has a special machined cover to clear the dual chains and bolt up to the block correctly on the later models....
"Center Line of the Main Journal to Deck"
* Early 20R Blocks 75-80 9.120"
* Early 22R Blocks 81-84 9.120"
* Late 22RE Blocks 85-95 8.930"
"Oil Pan Rail to Deck"
* Early 20R Blocks 75-80 11.280"
* Early 22R Blocks 81-84 11.280"
* Late 22RE Blocks 85-95 11.090"
Early model blocks/timing covers are 0.190'' TALLER than the Late blocks/timing covers
Hope that clears it up- you need a LATE model timing cover for your LATE model block!
Fix this and you'll be back in the game!