Today's sealing and gasket technology.

I use Permatex Ultra Copper on pretty much everything. Great stuff! Just be sure not to over-apply any sealant in places where it can squeeze out and get into your oiling system. A little goes a long way.

I like to use Fel-Pro's Permadry Plus gaskets for the oil pan and valve covers. They install dry, they are rubber with metal sandwiched in the middle. They also have metal grommets around the bolt holes to prevent over tightening. They're great, and re useable.

As for sealer with paper gaskets, I've had good luck with Utra Blue.

there is nothing wrong with the older cork style gaskets as long as they are installed properly. i will say that i tend to prefer the rubber gaskets these days because they dont shrink over time in storage like the cork ones do. as for sealers, that depends on where i am applying the sealer as to what type i use, though i mostly use black rtv in very thin coats on both sides of the gasket. i also use permatex #2 sealer as well, again using thin coats.

the perma-dry gaskets are awesome for sure and I would use one of those on the oil pan. the old paper gaskets are good enough for the water pump and timing cover though i do like to use a little permatex copper spray adhesive stuff on the faces of the parts that can be removed such as the back of the water pump and the back of the timing cover, that way you aren't scraping crap into the engine next time you have to change that part, when you remove the part the gasket comes with it.

the only exception to the sealer on the back of the part would be the intake gaskets and I like to use the Ultra Blue on both sides of the gasket and for the valley insetad of cork or rubber end seals