I know there has been several threads regarding leaking valve cover gaskets. A few months ago I noticed the gasket at the right front side behind the number 1 valve cover bolt had popped out or was bulging out. I have put about 1200 miles on the bike since I noticed this. I did not see any oil leaking but decided to change the gasket anyhow. After taking
the cover off and inspecting the gasket, it appears that only a small portion of the gasket had bulged out. However the inside of the gasket had turned into the rocker cover as you can see in the photo. However it did not leak oil. I am not sure it would have leaked. So I guess the moral of the story here is; if you notice the rocker cover gasket bulging out and it is not leaking oil, I wouldn't sweat it until it is leaking.