I'm pretty sure the stock 94-95 covers won't fit, even if you knock the baffles out of them. Keep an eye out for some Fox covers. They can usually be had pretty cheaply on eBay or in the classifieds.
I have AFR 165's, 1:7 Cobra RRs, stock valve covers, one set of gaskets and they fit with no problems. I didn't need to knock out the baffles. If I'm not mistaken, the fox covers oil fill tube is in the way of our curved intake, thats why it's hard to find aftermaket ones that fit.
I have fox vc's on mine, just needed to angle the filler tube slightly. It worked without angling it, but I needed to remove my cold air intake every time I wanted to remove the oil filler cap.
That may be the reason why the stock VCs work. From what I understand the stud mounted RRs won't clear the stock 94-95 VCs. But if you have the stock pedestal RRs on the 165s then you'd probably be ok based on the responses here.
I may try and install my stock cobra VC with my stud mounted RRs and see if I am lucky.