Graham,
Some of the Douglas aluminum can be quite miserable to weld, but by postwar the alloy was reasonably free from floor sweepings! I have seen rocker covers welded before, and I had to add a daub to mine around the retaining bolt to repair a crack. You make have to re-flatten the joint surface, as welding may introduce a little bit of distortion.
The main problem will be matching the 'hue' of the casting with the alloy of the patch and the filler material. Perhaps try a bead of weld on the proposed patch material, buff it flat, and compare to the polished rocker cover before committing. But I do not think you will have any problem with the welding itself. The more you weld on it the more it will distort, so perhaps just weld the outside surface. It is not all that critical; it just keeps most of the oil mist in, and the road crud out. It does not matter how ugly the inside is as only the rocker arms will know!
-Doug