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The rear main can be replaced just by dropping the oil pan. While your in there is a good time to check the bearings and timing chain. It's a pretty easy fix.
Good luck!
I saw a 302 that failed (locked up the oil pump) caused by a bit of permatex form a gasket I estimated to be less than 1/32" dia broke off a pickup tube flange gasket. I use very little gasket sealer. I let the gaskets do their intended function. I do use some grease on some gaskets to get them to release easier. I also use adhesive to retain the gaskets for assy.
For a pan if it is in good shape and you get the flanges real clean you can use a little silicone form a gasket without a gasket at all. It will prevent anyone from messing up your pan seal by tightening the bolts. For small blocks you can get a nice high $$ silicone gasket with metal inserts that works great.
I have used the liquid/paste type pipe dope on thread in type intake tubes. An air leak of any type on the pump intake will destroy the pump over time. Whatever you do, don't use Teflon tape!
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