Larry,
Keep in mind the Cleveland was unique in its design that closes off the recirc when the engine gets hot. Every other V8 manufactured during that era, that employed a standard thermostat, like the Ford Windsor, the Ford FE, the SB Chevy & BB Chevy, Chrysler, etc ... ALL, no exception, constantly recirc coolant (bypassing the radiator), even when the motor is hot. There is no method provided in their design to stop the recirculation of coolant. Those engines have a much larger hose for recirculating coolant than the little 1/4" hose we're talking about. For instance, the recirc hose on a Windsor V8 is 3/4" ID.
Pull the hood on any modern transportation car, you shall find them plumbed with air bleeds the same way. Inspect any modern race car closely, you'll find cooling system air bleeds all over the place. This is not an issue.
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