On the screws, I use blue thread locker as it not only keeps the screw from backing out it provides a non metallic medium between SS and alum and allows for easy removal when required.
30 years and 1300 hrs before service was needed, hoping only once. Looking forward to seeing what salt did in there. Run in fresh water too and always flushed.
Yes but "you are either already in or going in there" if this is referencing type of thread locker. Your main concern, if you haven't discovered it already will be getting the cover's mounting screws out without snapping off the heads.
I think it was "Racer 1" that posted on here that he grinds the heads off the bolts to get at the threads, soaks them good with penetrating oil for a bit and uses a set of ViseGrips to grasp the shank and remove it.
I have had good luck with the penetrating oil (not WD-40) for a 24 hour or so soak and then impact tool removal of the screws. For some reason screws will respond to the impact method whereby using just plain brute force will twist the head off if corrosion has seized the threads....normal problem with aluminum blocks.
When going back together, I like to take a tap and thread chase the holes in the block and if available, use new bolts.