No, you need to trim the seal flush with (but not below) the cap and the block. The Best Gasket seal "grows" a little as it's compressed, and it will either bind the crankshaft or some of the seal fibers will creep between the cap and the block and cause the oil clearance on the bearing to be excessive. Some people have experienced very tight turning of the crankshaft or even locking it up if the seal is not trimmed flush. The Best Gasket kit comes with a stainless steel shim that protects the crankshaft from being damaged, and a razor-sharp box cutter type knife for trimming the seal after it's installed. I like to use a little brush-on non hardening sealer like Permatex Super 300 between the cap and the block to prevent any seepage of oil between the two sections of the seal. When installing the anti-rotate pin, be sure it does not protrude far enough into the seal groove to score the crankshaft!
Jerry


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