1971-360 LA Questions.

Yes, you need to put sealant on the intake bolt threads, as the bolt holes are open into the valve cover area. Failure to do so can result in oil migrating up the bolts and pooling on the intake. As mentioned, the two "half moon" holes exposed on either side are normal. They are there to help air circulate around the exhaust cross over that goes through the intake manifold so as not to crack the intake.