while you are in there, you will want to replace any heater hoses underneath that are being saturated in oil. The oil softens the hoses and they will blow out causing you to loose coolant at a random not so convenient time in the future.
It is pretty common for the vtech solenoid gaskets to leak due to age (shrink and become hard). Pretty easy job for a DIY person (only 3 10mm bolts holding it onto the block), but just be careful to not to over torque the bolts when you are putting the vetch solenoid back on as they can break off into the block.. the bolts have some "stretch" (before they break) to them so after they feel firm, quite tightening. Probably best to use fresh bolts and follow the torque spec.
From the looks of it, your distributor may also be leaking.. also a common failure due to age as the internal seal gets hard and shrinks... then leaks out of the cap all over the place.
Since there is oil all along the front of your valve cover, your valve cover may be leaking too, but I would address the previous 2 and heater hoses first, clean all with break clean and see if the oil is still accumulating around the valve cover.
