It does matter - The grooves around the back of the bearing are to get the oil down to the crankshaft. The correct orientation for the cam lubrication is a different matter.
If the oil holes are not facing down the oil is free to flow out of the clearance space. This is a similar scenario to having the holes facing down or up on the rocker shafts.
If the holes in the bearings are not down, the spring pressure from all the valves is strong enough to cause rapid wear at the bearing and increase your clearance from as built very quickly making the problem worse.
Many will say that this does not matter, but I have specific evidence to the contrary. My father always said I learn the hard way...
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