Before I install this I'm wondering if it is considered the best idea by you seasoned owners.
The only risk I am aware of is in NOT having a transmission screen. Also make sure to put the magnet in it.
Use two gaskets. One above the screen and one below. The screen is a good idea.
Yes install the screen.
Outside oil line to while you are near there.
The only problem is that you need to clean it out occasionally. You'll be amazed at the amount of junk it cleans out of the oil.
Adding to what others have said, its also beneficial for keeping your oil line from getting plugged with band material and other debris. Its also a pretty good indicator of the health of your engine/trans when you find nothing on the magnet or in the screen. I know it makes me happy to find it clean.
Absolutely do it, with two gaskets. Also I added a few very strong magnets on top of the screen to collect the small fines
One problem that as come up before on the forum is,
If the ball cap is worn in the babbitt, the screen seems to direct to much oil to the top oil hole of it. Uni leak and sends oil to the diff etc. Solution is, if not replacing the ball cap, to turn it to face the oil hole to a side.
To make it easy to remove and re-install, I use gasket sealer on only one side of each gasket and a liberal coating of grease on the other side of the gasket. The top gasket can then stick to the cover and the bottom gasket can stick to the bottom of the screen. Everything seals nicely, comes apart easily, and no new gaskets are needed when re-assembling.
I use this procedure for water inlet and outlet gaskets also. If you need to remove the radiator, remove the bolts from the inlet, outlet and radiator mounting and lift it off. No struggling with hoses and clamps.
I found that it fills quickly with new bands or on a fresh engine (magnet fuzz) so check it more frequent at first - once you have an idea on how long it takes to plug up you can go down to once or maybe twice a season depending on your use of the T.
If you can find a rare earth magnet it will take up less space in there, I have 2 attached to the cover so they don't block any flow of oil. I got mine from K&J magnetics, they are rectangular about 1/8" thick x 1/2 x 3/4 and pack some magnetic pull. They have a website but I'm sure you can find these in other places too.
That said, I get something caught there every time I look so it is worth having it and the magnet.
My sealing sandwich is similar to Frank's, but a little thicker: 1 RTV on the screen, both upside and downside; 2 gasket on top, another on the bottom; 3 grease on hogshead; 4 grease on lid; 5 RTV on both gaskets; 6 assemble. The RTV flattened against the greased surfaces of the hogshead and the lid makes a good seal that comes off easily and is easily reinstalled with a new slathering of grease.
A handy tool for this job is a pair of studs made from 5/16"-18 bolts. Put them in a couple of the holes on the hogshead to keep the screen and lid from sliding around on all that grease.
If you use those studs, be very, very, careful not to drop into the transmission.
There have been times when I've been tempted to add a couple of rare-earth magnets to my oil screen (or oil strainer or whatever else you like to call that thing right under the transmission access panel), but have wondered whether it was actually a good idea. _The reason for my hesitation is; if the car hits a significant bump in the road, a big gob of magnetized iron filings would be liable to drop right on top of my drums and bands.
No, the idea suspending that crud right over the whirling guts of the transmission strikes me as being a little bit iffy. _So instead, I have a magnetized oil plug at the bottom where gravity works together with magnetic attraction to keep the abrasive stuff at the lowermost part of the pan, piled up against the proverbial exit door.
Well if you never check/clean it some thing like that is possible I suppose. That's the reason you silicone the 2 gaskets in but leave the surfaces that face the screen flange with only a layer of grease on it similar to what Frank F. says. Makes it removable for cleaning without ruining the gaskets.
With woven bands, a screen is a must. That was part of the reason I switched to wood bands. When I had it apart to install the bands, I also fitted a new ball cap. I ran with the screen for a while to gather up the last of the lint from the engine, all the while having the new fourth main leaking away (not a lot, but annoying nevertheless). After seeing that no more lint was being collected, I removed the screen, and the fourth main leak stopped. I'll be sticking with wood bands for these reasons, even though they're not as smooth as woven. It's really nice to open the hogshead inspection plate and seeing a perfectly clean transmission.
The screen is probably one of the best and probably the best accessories for the engine.
It wont hurt anything and it actually does work.