if you overtighten, you can crush the gasket/grommets, and create tears which will leak in a matter of days. If you don't tighten enough, you'll leak immediately.
I never used a torque wrench on valve cover gasket swaps I've done (been through a lot of custom VC's) just tighten until moderately snug, not to the point where it takes strong effort. just where there is a fair amount of resistance.
remember, start from the center, and work your way outwards. gradually tightening as you go. should take about 3 times around to tighten it down properly. I'd finger tighten all of them (from the center out) then go through and tighten them til the nuts stop turning easily. Then, from the center out, again, go around and snug them all up.