Thanks for much of the constructive input, insight and support here. Before I posted here I made an effort to do a little research on gasket materials. I browsed through a few manufacturer's web-sites. I was totally overwhelmed with the (hundreds) of various types of gasket materials, for example:
http://www.auburn-mfg.com/gasket-material.html
So, before I went any further I thought I'd throw it here and get some input.
As I've mentioned I own a number of brand-new in-the-box never-run (1980's) vintage Rossi R65/R80 and Picco P67/P80 marines engines. Most of which were purchased back in the mid-1980's (I was in my late 20's at the time). These engines have been stored in my garage ever since, enduring stifling heat. Upon disassembling a few I noticed the gaskets were cracked/split (although I was'nt surpised). Also, certain models would require updated rods (bushed on both ends), and so on. At first I thought not even mess with these engines, just get rid (sell) them. Later I figured I'll just make use of them. So I've just been taking my time, carefully re-building 4 or 5 engines, [cleanly]. I've sent a few crankshafts to Scott Bouchie for balancing. A few custom fabricated carbs, and so on. This way I'm becoming a little more versed in engine set-up. Actually, I enjoy working on these older engines. I have a collection of original hulls for which these engines were intended.
I've been slowly getting back into RC boats the last 5 or 6 years. Inch-by-inch, month-by-month, year-by-year. In between surgeries, hospital stays, and physical therapy. Been on a "roller-coaster". So things have been happening in spurts for me. I take things as they come. In the mean-time, when I get a chance, I jump over to Legg Lake and catch a race here and there, which really "restores" my excitement for this unique passion. So I've updated my radio gear, engines (NovaRossi's, CMB's, etc.,...), hulls, and so on. This way I can "re-learn" set-up and driving with my older boats, then switch to the newer gear.
I've been around RC modeling for a long time. I came up the traditional route through Control Line, RC airplanes, RC cars,. But really fell in love with RC boats around 1971. Last time I ran a boat was 1988, NAMBA District 19 Heat Race. Dreaming of getting a boat in the water.............