...With a model that uses a cylinder base o-ring, I'd skip that part and just be sure to lube the o-ring with a bit of engine oil before putting it in its groove...
Both Airhead Gurus Oak Okleshen and Bob 'Snowbum' Fletcher, when queried about using a sealant along with the large base o-ring agree, "It can't hurt."
As noted, do not over-do it and squeeze sealant into the top cylinder stud oil passages.
Both my R65s have the large o-ring and also get a thin smear of YamaBond. The R100S
does not have the machined grooves for an o-ring so the sealant is mandatory.