High-flying Basford United edged a five-goal thriller at Butlin Road to extend their unbeaten league run to thirteen matches.
Town more than held their own for large periods of the game against their play-off challenging opponents, but the visitors' clinical nature in the box saw them further extend their great run of form.
There was a Town debut between the sticks for Charlie Woods, with two other new signings Ryley Nicholson and Noah Rubio named on the bench, as Rugby looked to build on their win in another five-goal Butlin Road affair the previous week against Lichfield.
Lynden Joyce put in a dangerous cross in the early exchanges for Basford, with the same player then on the end of a corner shortly after - but Woods was able to gather his header comfortably.
Nyle Blake shot wide for United, before Valley registered their first effort of the match when Caine Elliott dragged one wide after a neat interchange with Jack Concannon.
Trey Charles fired a free-kick into the Basford defensive wall, and a Kobi Bivens' strike was blocked as Rugby settled into things, although Oliver Wilson's rising shot at the other end was caught by Woods as the visitors looked for an opener too.
The deadlock was broken on twelve minutes thanks to a moment of inspiration from Jordan Hallam, when he instinctively half-volleyed over Woods from twenty yards after Nathan Kabeya failed to get enough distance on a clearance.
Rugby nearly got themselves an instant response though, after Concannon pass through to Bivens was cut out by United keeper Matthew Yates - with the loose ball falling to a well-placed Rivel Mardenborough, but he could only guide his effort the wrong side of the frame.
Blake 's powerful cross was then just too high for Wilson, with Wilson also seeing his deflected strike kept out by a decent save from Woods.
The chances continued to come at both ends, and Bivens was blocked out at the near post after a low cross from the left by Mardenborough, with a further shot from Bivens from an angled position deflected wide.
Hallam missed out on back-to-back opportunities - the first excellently blocked by Josh Thomas and the follow-up drifting wide, with a Wilson strike then gathered by Woods after it had looped up off a Rugby defender.
Charles lifted one way over the bar after Elliott's cross had made its way to him, and Hallam's speculative effort from distance flew off-target as the first-half came to an end.
Valley started the new period brightly, with Yates positioned well to save Mardenborough's strike in the box, before the hosts really should have equalised after Callum Griffin's defence-splitting pass played in Bivens, but his attempt at dinking the ball over Yates failed and the Basford keeper plucked the ball to his body instead.
This miss was punished when Wilson's deluvery from the right found Tyler Dacres and he span round before finding the net with a deflected strike.
Town believed they were back in the game though shortly after when Charles did well on his wing before picking out Bivens with the cross, and the striker rose well to head the ball onto the post and over the line, but the match officials did not agree and a goal was not awarded.
However they did (wrongly) award a corner from the play, and from this Charles was ultimately able to put in a further centre onto Bivens's head, and this time he helped it across the face of the goal onto Will Harris - who applied the finishing touch for his first goal for the club.
Griffin's shot from the edge of the penalty area was saved by Yates, before Basford restored their two-goal advantage after a neat one-two between Blake and Thomas, ended with a cool finish inside the box from Blake.
As the game became increasingly frenetic, it was soon 2-3 when Sam Tye scored his eighth of the season after Bivens had put in a first time cross following Kabeya's long ball across to the right-hand side.
Connor Dimaio sent one way over and then his free-kick was met by the head of Thomas, but Woods was equal to his effort, with Elliott bundling a ball agonisingly across the face of Yates's goal at the other end.
Elliott went close one further time before the final whistle with a shot that bounced wide of the post.
Valley
Line-up: Woods; Kabeya, Lundoloki (Nicholson 66'), Thomas, Harris; Griffin, Elliott, Concannon (Tye 22'); Charles (Rubio 71'), Mardenborough (Taylor 71'), Bivens. Subs not used: Lowe. Booked: Kabeya.
