Just a quick update:
I LOVE this cover! I think I made the right decision. The weather here has been HORRIBLE lately with wind and rain and the cover has been awesome! I do think I'll go back and install the drains like the instructions say. I don't know where the water comes from but there is a little that gets in the channels and drains out the back or in the front where the drains are. Honestly, it's not much water at all but with the drains installed I think the cover will be damn near waterproof!
Also, this thing is tough! Like a ****, I had a long piece of formed aluminum (roof ridge vent cap) hanging out of the back of the bed with just one section of the cover flipped up but not tied down. I thought I could drive nice and get home. WRONG! The wind caught the cover and SLAM! It shut on the ridge vent. I thought for sure the cover would be damaged but it wasn't! Cover was perfect, no damage at all. Wish I could say the same for that ridge vent.