That's an interesting idea for sump and cam cover gaskets, Brian. I used to help a buddy with his big V-8 Mustang race car and it had rubber valve cover gaskets. I didn't like them I think because I was afraid they would squish out but they did seem to work. I don't remember what his oil pan gaskets were made of. I had no problem with the thick cork valve cover gaskets on my Spridget but I hated the thin cork gasket for the cam cover of my BDA. They were redesigned and now they are a rather rigid sheet with a sealing strip, probably made of some rubber, that does the actual sealing. MUCH better!!
Speaking of snakes, I once knew a guy who used too much silicone on his fuel system (I assume it was for sealing his fuel cell in his race car). One day, he couldn't get it started. For some reason, he wasn't getting any fuel. it turns out he had used too much silicone and it formed a rope in his fuel line! It's easy to use too much of that stuff and it's not as impervious to gasoline as some think.
Yeah, it's a bit more involved on a TC; more so on my car since it has a dry sump. I have a new clutch disc that I'll be installing sooner rather than later and that will probably be when it gets done.
Since I got interested in this, I've gotten a better understanding of just how bewildering the assortment of gasket goos there are. Just one example is the Aviation Form-a-gasket #3 JB and Bryan mentioned. I have a can of something very similar also from Permatex called Super 300. From Permatex's website, the difference seems to be that Super 300 is formulated especially for synthetic oils. Then there's the different types of Permatex gasket goos (RTV, anaerobic, and solvent based) and different kinds of RTV (conventional, ultra, and elastomeric), and on and on. Permatex also makes a silicone goo that is specially designed or synthetic oils (of interest to me since I use synthetic oil) and another specially designed just for gear oils. And that's just some of the gasket goo that Permatex makes! Then there's Hylomar, gasket shellac, and a host of other gasket goos out there!
It's been a ride so far!