IIRC the bleed hole is not just to de-air the system, but also to ensure the thermostat is not sitting in stagnant coolant, ie it is "up to date" with the current temperature of the engine?
Modern cars have sensora all over the engine and a heating element in the t-stat housing to open it when the ECU wants to, but those also should have a bleed hole as mechanical back-up.
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e·co·mod·ding: the art of turning vehicles into what they should be
What matters is where you're going, not how fast.
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[Old] Piwoslaw's Peugeot 307sw modding thread
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