I've decided to run the front bumper for a while as is with the front vents open. I want to see how much water stays in the winch box. I don't have the winch installed yet but I did close up the four winch mounting holes in the bottom of the box. The front receiver hitch bolts to the same holes as the winch so I bolted the hitch on. It was raining off and on all day today but I didn't expose it to any sustained highway miles where the road splash from other vehicles would factor in.
So far, so good, it seems to be draining well. The real test will be on a sustained drive on I-5 in traffic on a heavy rain day.
The photo shows the extra round hole I drilled for winch cable access and the two small holes up high in the center for the center light mount. You can see the stock drain holes at the back of the winch box (not the front like I posted earlier).
The look of the front bumper vents is kind of growing on me and I hope I'll be able to leave them open.