I have fermented like this, both professionally and at home, since about 1994/5. Sealing buckets is a PITA - in the first place, they don't seal very well at all. In the second, getting the ^#$!! lid off again is frustrating.
I call what I do "open fermentation" though it really isn't. My setup uses squares of 1/4" clear Plexiglas to cover the mouth of the bucket. The bucket is totally covered, positive pressure can escape, and I can see what's going on. You can mimic this by simply placing a piece of clear packing tape over the hole & grommet in your LHBS-supplied bucket lid.
Drafts carrying particles in...what a hoot. That's the most amusing piece of homebrewer worrying-over-something-remarkably-silly I've ever heard. Nothing can get under that lid, unless a strong enough "draft" comes along to lift the lid and deposit something into your ferment. If your fermenter is in an inside room, don't worry about it. If you've been so n00by or boneheaded to place your fermenter on your front porch in a gale, or in a wind tunnel, put it someplace cool and dark and quiet like you're supposed to do. Tell you what - do an experiment. Lay a lid loosely on a bucket, get on the floor, and blow upwards. Or try a hair dryer on 'high'. If the lid doesn't move, don't worry about it.
Even if something does get inside, the contaminant has to be able to live in an extremely hostile environment - the layers of carbon dioxide gas and kraeusen on the beer serve as a pretty effective protective shield. You just need a cover to keep dust and critters from falling onto the shield.
The advice about not sealing the bucket if the lid doesn't have an airlock is good, though!
No need to cut anything, Guthrie. Just tell him to keep a close eye on the ferment. When the krauesen falls after the primary vigorous ferment is over, it might make him feel better to rack it to a closed vessel like a carboy, but even that's not necessary. Like I said, I've been fermenting this way for a long, long time, and I haven't had an infection since I learned how to chemically sanitize my stuff. Of course, it does presuppose that once you get the lid on you don't muck about in the fermenter.
The only difference between my semi-open method and a carboy is the size of the opening in the top of the vessel. A bucket's is larger than a carboy's. That's it! There's no more or less control inherent in either method. Gas can devolve, nothing extraneous can get in. Pretty simple.
Cheers, all!
Bob
Edit: I wish to apologize for the tone of the above. I was trying to be funny, taking the mickey about the whole 'breeze in the bucket' thing. Epic fail.