Just did mine, here are a couple of tips:
1. Blue loctite is now available in a gel in a 10 gram twist-bottom container, ~$15 online. I really like the way it sticks to the threads on a bolt rather than dripping.
http://www.permatex.com/documents/tds/Automotive/24010.pdfAlso available in a 5 gram squeeze tube ~$7 online.
2. My guru, an independent BMW mechanic and shop owner for 30 years, prefers the grey RTV for both sides of the gasket. Smooth with finger a uniform layer covering all the gasket surface, not just around bolt holes or down the middle. But he says that even more important than the exact type or color of RTV is the curing time. Years ago he found a published study that indicated that the probability of seal failure decreased dramatically with extended cure time before adding oil and firing it up. His shop practice on oil pan gaskets is to let the RTV cure at minimum overnight, and they don't fail.