Recently I've noticed a few drops of oil under the gearbox when parked for a few days, the leak was traced to the valve block cover, specifically the section between the cover and the oil cooler.
With the help of Marc, the appropriate gasket was found and I got hold of some 'Hylomar Universal Blue jointing compound' and set about removing the valve cover:
The oil leak:

After removing the 11 T40 bolts the cover came off with ease, exposing the valve body:

To my surprise, the original cover did not use a gasket, relying only on the orange compound (Silicone based I believe):

After removing the old stuff, I added the Hylomar and gasket and refitted. This is where the problems started. Even with moderate tightening, the gasket tore. So, off with the cover to remove the bust gasket and clean the mating face again.
After that disappointment, I decided to try again using just Hylomar, applying a bead like so and bolting it up:

Unfortunately, as I was refilling the gearbox with oil it started leaking heavily from the join. So, off with the cover again and I repeated the application of hylomar, this time allowing it to dry before bolting it up (as per the instructions, I should have done it first time). The torque wrench I had only went down to 20NM so 5 more than the official book value:

The past two days I've checked the gearbox and all seemed well until this morning where after running my finger along the bottom of the valve body cover, I could see red ATF running down my finger. Needless to say, I was a bit miffed.
I rang the firm that sold me the first gasket and they recommended the Three Bond 1215 (https://www.techsil.co.uk/media/pdf/TDS ... 40-tds.pdf) It seems to be a bit more suitable from reading the datasheet. I've also ordered another gasket and a few more litres of ATF.
Basically, I'm after any experiences people have had with sealing gaskets:
Is the torque value critical?
Are gaskets essential?
What is the best jointing compound to use?