Gasket schmasket. We used a Mercedes sealant on the pan spacer to pan, and pan spacer to block on my stroker. Coming up on 10 years dry:

 

I school my customers to torque to silicone torque spec (printed on the label as Roger showed) those oil pan fasteners that they can get a socket and torque wrench on. Then take the wrench that you will use to do the rest of them and learn what that that torque is by going back over the ones you have just tightened with the torque wrench, Learn what that feels like, and transfer that to the others.

When installed correctly, the silicone oil pan gasket performs very well for many years and is reusable. See how many people in this thread report their success with it. Remember to check your oil pan flange for flatness. Some oil pans are no longer flat as previous owners may have reefed on it in their frustrated attempt to seal up a shrunken/dry OEM gasket. This is usually the case when someone reports an oil pan with a chronic leak that resists every attempt to seal it.

If you are using the OEM cork gasket and have leaks - it may be your oil. The cork gasket works in conjunction with the mineral spirits found in the oil to stay supple and swollen or inflated. Synthetic oils do not have those spirits, and the cork will shrink and dry, pulling away from the gasket surfaces. Then suddenly "the bolts are loose". This is one reason why you will not find cork gaskets on modern engines that are designed to use synthetic motor oils.

 

I'm on my 2nd orange pan gasket. The first was installed by an otherwise competent mechanic, who seemed to understand how to tighten it.
However, it was overtightened and split a couple years later.

When I realized where the leak was coming from, I got in touch with Greg, who had not gotten his done yet.

The second time, I installed it and used the 'corner method' describe above, more or less. Hold the pan up in place, get the corner nuts to touch the pan (stud kit). Go around and get the rest to touch. Tighten slightly from there.

It's been in three summers. So far, so good.

 

I've put the orange silicon gasket 3y ago when overhauling my engine. about 2000 miles driven in very hot weather and cold. No leaks whatsoever.
I have a 928S Euro of 1980.

 

Sometimes when trouble shooting CIS problems it is pretty easy to end up with fuel in your oil. Happened to me and it turned my orange silicon gasket to goo. It was a while back and I don't think I can find a photo now. This is a very specific concern, but if you have a CIS car that sits a lot or has an unknown fuel system status I would be very careful.

 

Thank you Karl, that deserves a mention. Gasoline dissolves silicone. Never use silicone gaskets or hoses in a fuel system for this reason.

 

I actually made a "thin" version of my new gasket to take the place of the Mercedes sealant that we were using with our pan spacer.....to make life easier. If necessary, getting the pan spacer off of the block, when they are "glued" on with that sealant, is a real challenge.