I am installing new gaskets on the water pump of my 1947 Packard Super Clipper with the 356 engine. Should I also use some type of silicone gasket sealer as well or are the gaskets best left as is? I seem to recall that the manual says to use a "paste" but I don't know waht was meant by that.

One of two things work good for most gaskets, Canadian tire has small bottles of gasket shellac, 3m's weather strip adhesive (yellow glue) or the soft setting gasket cement small tube Crappy tire has all.. Clean the metal good, if oily wipe with alcohol first (rubbing or methyl hydrate) let dry the apply adhesive

I like the above too... Often I use Aviation #3 gasket coating or Hi-Tack (good to hold gaskets in place to assemble!!! Both are Permatex products. Most auto stores have them!