Jimmi,
I believe the multiple gaskets are used so you can shim the cover so that the ball part of the joint at the end of the torque tube will be neither too loose nor too tight. I am guessing that there are two different gasket designs because there are two different cover designs.
Mine takes the four bolt gasket. I have the four speed in a 1951 1/2 ton.
Does sound like your seal is shot.
Kurt
