Mine's dry. Use these ingredients:
-casehalves: Loctite 518 (new technology) or Permatex 3H Aviation Form-a-gasket (old tech)
-sumpplate(s): Hylomar 71285, now avail from Valco. Awesome stuff - a must have!
http://www.valco-cp.com/Hylomar.htm -sumpnuts/washers: Permatex Ultra-grey, Loctite 5699, 3-bond silver or grey (Cummins p/n 3823494 - cause I like the small tapered metal nozzle). All these, essentially the same product, readily available, and are much more oil-resistant than other RTV's.
-headstuds in case: Blue loctite 242 (w/ case-savers, which are essentially inserts with enclosed bottoms). You only need this as a convenience to keep the studs in place.
-headstuds/nuts/washers in head: Ultra-grey/5699/3-bond silver. Small bead under washer only.
-case studs/nuts/washers: Ultra-grey/5699/3-bond silver. Small bead under washer only.
-rockerstand studs: 242
-valve covers: 3H, gasket to cover only. Let cure overnight before starting engine.
-push rod tubes: good quality seals only.
-fuel pump: hylomar
-gen/alt stand: hylomar
-oilcooler/adapter: good quality seals only
-oilpump to case: hylomar
-oilpump to cover: hylomar - thin coat. Do not use RTV which, unlike Hylomar, will squeeze into (and plug) the return groove.
-full flow fittings: Loctite 567PST high-temp thread sealant (green 292/sleeve retainer is overkill, but thank you for sharing Gene).
-oil filler type 3 and 4 (+universal case): hylomar
-oil pressure switch: Loctite 567PST high-temp thread sealant.
-gallery plugs: Loctite 567PST high-temp thread sealant and lock per B. Hoovers detailed instructions.
-pulley sand seal holder to case: 3H. It seals, doesn't harden, and still allows easy removal to change the seal.
-cam plug (metal): Permatex high-temp form-a-gasket #1572. Awesome sh*t! Messy, stains fingers!
And lets not forget,
-jugs to case: Ultra-grey/5699/3-bond silver