patbluecruiser,
I have the valve that replaces the oil drain plug on my PT Turbo. Fits like a glove. The lever is in an L-shaped track. You have to push up and pull the lever to the side in order to allow the oil to drain. The lever is actually on the top of the plug, so no road debris can hit it.
BTW, you can buy the drain valve from Moss Motors:
www.cruiserbits.com
Scott