I remember my dad doing that, then frying it in oil ... always thought it was a bit weird...
I prefer to get proper gasket paper, or use the silicon gasket stuff. The only thing you have to watch with the silicon is that the gasket does not act as a spacer...
I replaced the head on my Princess many years ago, and bought the top gasket set. For some reason, it does not include the gasket that seals the plate at the end of the over head cam. I used Silicon on this, turned the engine over, which promptly jammed. Turned out the gasket acts as an end float adjustment, and without it in place, the plate bound up on the end of the cam and stopped it from turning, taking out the new cam belt, but luckily not the valves or pistons.