The following is my $.02 worth. It has worked for me for hundreds of C-4s and may help you.
C-4 Transmission Pan Gasket Service for stock steel pans:
When removing the pan use a 7/8” flarenut wrench to get the dipstick tube loose first before loosening the pan bolts. Make sure all the pan bolts are the Ford flanged type. The incorrect pan bolt can also cause leaks due to improper or uneven clamp load in the areas surrounding the bolt holes. Choosing the right type of gasket is important. Paper gaskets are not as friendly when used with older vehicles and usually require over-tightening of the pan bolts to make them work. I have never seen a rubber pan gasket that didn’t leak on a C-4 no matter how tight it was. As far as I’m concerned, any C-4 pan gasket that comes folded inside a box from a part store is absolutely worthless. Go to a transmission specialty repair shop and buy a cork gasket, and any other supplies if needed. The best way to prevent leaks is to spend some time preparing the gasket surfaces. The trick to making the pan seal is to make sure the pan surface is flat and free of any stray gasket material. I have a wire wheel on my bench grinder for getting these clean. A dry gasket surface, free of oil and dirt is important. Most all transmission pans on trucks this old will be distorted on the gasket surface. You will likely need to straighten your gasket surface on the pan before reinstallation. The pan can also get distorted by using a paper gasket because you have to over tighten the bolts in order to get them to seal. I usually straighten pans with a special punch that is larger diameter than the bolt hole but ground to a very shallow cone. The back of a ball peen hammer also works well for this. Brace the pan rail from behind with a straight block of hardwood, steel, or the edge of a workbench. By using a hammer with this punch you will cause the bolt hole to go beyond being flat and just a little concave on the gasket side. But when you tighten the bolt it will draw the gasket surface on the pan flat again. Using the hammer, straighten any other distorted edges so as to make the gasket surface straight and level. When tightening the pan, the same torque spec will not work with all gaskets because of different gasket manufacturers. For this reason I tighten them by feel and by sight. When the gasket starts to bulge just slightly around the bolt that you are tightening, that is usually enough. The important part is to get them all evenly torqued. Draw the bolts down evenly, and do not over tighten. You will need to go over them 3 times or more to get them all evenly torqued. A speed handle is my favorite tool to do this. Use no sealer with a cork gasket, if you managed to get the pan surface straight with a hammer and punch that I mentioned, and it is clean, dry, and free of oil, it will seal properly without a problem. I have the best success installing cork gaskets dry. If you must use sealer, use Gasgasinch. Apply the sealer to both sides of the gasket as well as the sealing surfaces and let it dry to a haze before positioning the gasket and installing your pan. Whatever gasket type you decide, careful preparation must be taken before and during installation.
I wish you the best of success ~BH~