I really appreciate all the help and insight from everyone. I'll probably go with the Budge RB-3 as Volvo65 suggested.
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Tony Scarola
1958 Volvo PV444 (44408)
http://www.scarolas.com/58VolvoPV444/

I bought a Budge RB-3 at Kragen (RB = Rain Barrier). It was on sale for around thirty something. Works absolutely great. Have had one on my '64 Lincoln (RB-5) for over a year or so and it shows no sign of wear. http://www.bestpriceautoaccessories.com/Budge_Car_Covers-Rain_Barrier_Size_3_Cars_up_to_16_8_.html.

Look for one at Kragen or see if they will order one. I am really pleased with mine!
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'61 PV544 - '65 PV544 - '64 Lincoln Continental

Hi Tony. When I bought my 544 it came with a custom fit car cover. It fits a 544 perfect and even matches the paint. The problem is that I have no idea where it came from, sorry. It is cloth so we put a tarp over that and the cloth cover prevents scratching. Maybe somebody knows where my cloth one came from.
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Bob Graham NC '65 544, '88 240 wagon, '91 240 sedan

Tony - I have purchased three inexpensive car covers on ebay. I got a Volvo one for $35 for our 850 wagon and am very pleased with it.

I also have covers for my PV and my 1800. They both fit well and cost $30 or so.

The winter before last I used an 850 cover for my 1800, and although it was loose, it did the job. After one year in New England weather, the top showed signs of wear and was faded a bit. Last winter I used a cover that fit, and it was easier to install and remove. I had it off a few weeks ago and the car was bone dry.

These covers do soak through if it rains for hours. What I have done is cut a blue tarp so that it just laps over the sides and ends of the car about two feet, then I cover that with the car cover. This inner tarp catches the water that soaks through.

The only issue that this causes is that after a long rain, I check the ends of the cover and drain any water that gets caught inside the cover

One advantage that I have is that I park the car on a large concrete patio and no moisture comes up from the ground.

Tony
I have a car cover that can breath, but it is a bit pricy for a donor, about $300. You could reuse it on the restored one after. If you are interested it is www.carhugger.com .The most expensive material is waterproof and it breaths. The material is called Noah I think.
Steve