No....Hylomar is one of the best gaket dressings ever made. I just use the Loctite in place of gaskets whenever possible. You just have to use it on similar metals.. e.g. aluminum on aluminum . Sanitary surfaces & a good bead on the surface.
I would go with the Loctite 515 gasket elimintor.. Not too expensive , you can go together ( w/no oils) w/o a gasket . The Yamabond is a good choice too.
Practice on some spare parts before doing this. You need a good application w/just enogh to ooze out of the joining surfaces .
This bolt torques to about 55 ft lbs so you need to use a 3/8" or 1/2" in. drive tool on this. along w/a 3/8" drive socket. Any good name brand tool is good.
SnapOn , Craftsman , etc...
I don't think you are going to have any problems w/the external pump if you keep the heat wrap on the pump. Unles you can slip up on another bike you can transfer all the parts from this will get pricey....