Bill, 
  I used two gear driven positive displacement coolant pumps on the two V-8 powered SkyBolts I built. Both had screens at the entry to protect the close tolerance pumps. I used "pipe dope" on the coolant fittings throughout the system. Within 2 hours of engine startup the coolant had leached the dope from the fittings and plugged the screens, pressure built up and I had little jets of coolant spray everywhere. It may work fine on the fuel system but I won't be using it again anywhere soon. 
FWIW 
Randy 
 

Randy,

 Locktite makes a new product that I would suggest. I'll check the number. I don't know what "fittings" you used the stuff on I was only suggesting it for NPT fittings, nothing else. It shoould also only be applied so that it comes in contact AFTER the threads have started. I don't know how you could use enough of the product to plug any screens. It should be digestable in small amounts. NO material should be allowed to be in a position that it can flow into the system.

Bill Jepson