My understanding is you would NOT want to use the NON-Hardening in this application. Permatex makes a hardening and non-hardening material and I believe Yama/Honda-bond does too, make sure you know which one you have. I use the non-hardening on my differential case cover and valve covers. Something like a cylinder base or crank case is where I would use the hardening material.
From Permatex's web site:
Form-A-Gasket® #1: fast drying, hard setting, designed for rigid materials and flanges. Form-A-Gasket® #2: slow drying, non hardening, designed for sealing cut gaskets on non-rigid, vibrating, stamped parts, allows for easy disassembly if required
Where would you use the Aviation Form-A-Gasket® No.3 Sealant? The Aviation Form-A-Gasket is a slow drying, non-hardening, sealant, resists gasoline, oil and grease. It is used for close-fitting machined surfaces, sealing hoses and solid gaskets.
One thing to be careful of is how much you use. Never use too much of it as it can/will squish out when mated together. Its more important in 4 stroke engines because if you use too much and it drips on the inside of your engine it could come lose and block and oil port.