Thanks for the overwhelming response guys. In case it was all offlist I'll post this for the archives.
Numerous listmembers chimed in that the 50's version of the Fiamme rims had grommet/ferrule around the valve hole.
So I will try to repair or reproduce what is there.
Thanks again to all who emailed me.
Also, wanted to publicly thank David Ross for kicking down the HF Legnano rear hub I asked about last week.
Cheers, Jon Williams (Otis)
Grants Pass OR USA