So, my aluminum cased Mile-O-Matic 2 speed was leaking fluid. Not a lot, but a leak none the less. Seemed to be the pan gasket. I ordered a new Fel-Pro gasket and when it finally came in, I went to work. When I went to put it back on, I found one bolt on at the back corner would not tighten. I imagine this was the source of the leak. Anyway, I had to get it back together so I could move it back into the garage and ordered a Heli-Coil to fix that bolt. Today I got it back out and took the pan off and a few bits of the new gasket stuck to the case. Then I noticed the old gasket was the same material (not cork) but thicker, even where compressed, than the new one. You can feel the difference. It's still looks as good as the new one less the torn pieces of itself it left on the case. Should I just reuse this older one? It's about 5 or 6 years old when work was needed when reverse decided to go on strike. A new one from Fel-Pro is 4 days out at least.
I would put it together with the old gasket, if it doesn't seal you are just out a little time to get a new one.
The rule of thumb is to never re-use a gasket, it may look OK but chances are it isn't. While you are waiting for the new gasket to arrive you should check the threads in all the bolt holes, check the bolts themselves to make sure the threads aren't damaged or stretched, also make sure the pan flanges are straight and flat. A lot of gasket problems are due to using the wrong sealer or using a sealer when one is not required.