The auto industry has gone 100% to silicone as a replacement for stamped or molded pan gaskets during powertrain manufacture. It's applied via a robotic dispenser to the sealing surface prior to assembly. Saves a bit of money on each one. BUT it is probably the largest warranty cost: the engines and transmissions are leaking right out of the factory. This isn't because the silicone can't seal, it can. It's because the sealing surfaces need to be very clean prior to silicone application, and the parts washers being used to clean oil pans, blocks, and timing covers aren't doing a consistent job. If you're going to use silicone on assembly, use it sparingly and clean the beejeezus out of the sealing surfaces with something like brake cleaner, which won't leave any oily residue if you're careful.
However, a problem with assembling an engine or transmission with silicone is that if the surfaces are clean enough for good adhesion and sealing, the parts are literally glued together and now they're difficult to disassemble.
I prefer paper or composition gaskets.