Which stuff?  There's quite a few variety's.

I tried the ultra grey instead of the paper clutch cover gasket and it didn't work.  But I also didn't let it sit overnight to cure either.

I have used Permatex Ultra Gray with success.  As with any gasket cement / sealant, one must keep the surfaces clean.  I use Acetone or lacquer thinner to remove any traces of oil.  When tightening, don't make it so tight that all of it squeezes out.  Let it cure, then torque the assembly down.

Thing I have grown to like about the gasketless systems is that they do not seep like the gasketed ones.  It is just unconventional, if you (like me) have used the standard gaskets for many years.

Since, my 1987 Savage developed a weep in the head area several years later.  Over time it leaves a slight mess on the front of the cylinder jug, but nothing like the classic head plug leak.  I'll have to troubleshoot it.  I am not losing oil where I must constantly replenish it and there are no drips on the pavement where I park it.  It is just that I end up cleaning again after a couple months.

Next time I will replace all the copper and neoprene washers in the head area.  Plus I will install a new head bolt access plug, since it has been several years.

One thing I did do (because I had no other guidance but the '86-'88 Clymers manual) was put Ultra Gray on the head plug.

[OT] Having spent the past two years living near the ocean, salt spray and continuous rain means a good tear down and repainting.  Now I can understand why others replace galvanized bolts with stainless.  Even stainless will rust near the ocean.    

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HPT

I echo what others have said.  The gray stuff can leak, especially if not applied correctly.  Seems best suited for non-critical applications where a "dust" seal is needed rather that a "liquid" seal.  The red high temp RTV sealer is better for tight, THIN seals of a moderate heat range such as the headcover...

...and experience has taught me that it's better to use the manufacturer's paper gasket when recommended because those are jobs that you don't do very often...and short cuts just increase their frequency

PS - in another topic we discussed the gray stuff.  It seems that there are 2 kinds.  One tends to get brittle and hard.  The other remains flexible.

If your talking about where the header goes into the head, that would be best with a new crush gasket.

Out of curiosity, I went to the manufacturer's site at http://www.permatex.com/products/automotive/automotive_gasketing.htm

Here is what I found out from the Technical Data Sheets (TDS).  I noticed some of the descriptions have been revised from what they were 4 years ago.

Permatex Ultra Grey Gasket Maker.  Will seal under high pressure, torque down immediately after application.  Used is close bolt spaced covers.

Permatex HI-Temp Red RTV. Silicone Gasket.  Very flexible, requires adequate film thickness to function (don't torque down excessively until set.)

MotoSeal 1 Ultimate Gasket Maker Grey.  Excellent gap filling properties, designed for use on motorcycles, personal watercrafts, snowmobiles and all-terrain vehicles. MotoSeal 1 resists high temperatures and performs well in a gasoline environment

Typical uses: • Cylinder head top covers • Crank case halves • Timing chain cases • Cam covers • Center and end covers (transmissions) • Exhaust manifold seals • Cylinder case halves • Side covers • Clutch housings.

IMHO, Ultra Grey worked fine on the valve cover, but poorly on the head plug (lack of flexibility).  My next purchase will be the MotoSeal.  Sounds like it might be similar to Yamabond, no?  

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HPT

Paladin. wrote on 01/12/08 at 07:36:54:


Paladin,

Is that stuff easy to remove when it is time to clean it off in preparation for another installation?

Just curious why I haven't read anything about "the right stuff" from permatex (forgive me if I should have researched more).  My dad's a mechanic and owns his own shop..he has always taught me this was the best stuff by far to make gaskets and I believe this is all he uses. I've used this on pretty much every gasket I've had to make on my truck with no problem ever. I have now also used it on every part I've reassembled on my Savage. This stuff is quite a bit more expensive than all the others but...any reason I shouldn't be using this on the bike?