My favorite method is to remove the cover, and polish it with a wire wheel. It takes a couple of sizes, a normal one and a small wheel to get into the tight areas. After the wire wheel treatment, I take an auto polish which removes the tarnish and shines it up nicely. It's work, but the results are great, and no painting is needed, which can peel and flake off over time.
Doing the above, surprisingly the cover will stay shiny for many years. I did this on my Corolla many years ago (it's been I think almost 20 years) and the valve cover still shines. Yes I know, the car needs work I have not had time, sad.