Craig,
Is Ultra Black a silicone sealer? Seems like a better idea than a gasket.
Yes It is Permatex® Ultra Black® Maximum Oil Resistance RTV Silicone Gasket Maker. Infact I just used it instead of a gasket between the differential and rear axle housing a couple weeks ago.
Then earlier this week, the small side plate plate (driver's side) of my newly rebuilt sm420 tranny was leaking a little so I dumped the oil removed the paper gasket, cleaned it and thinly coated it (both sides) and reinstalled it. No leaky!!!!!!