Yup. By the book. Timing cover first, then oil pan. However, there are a few tips along the way. First, make sure the oil pan rails are good and straight and the pan bolt holes are not crushed in. If they are, flip the pan inside up, place the rail on the work bench edge and tap the holes flat again with a ball peen hammer. Then, make sure the rails are good and straight.
Install the timing cover with a light coat of silicone around the water pump holes only, on both sides of the gasket. Everywhere else needs to be dry, unless you want to use an adhesive like 3M yellow weatherstrip just to hold it in place everywhere else. The silicone in those two spots is usually enough. Install the timing cover and put silicone on the threads on all of the timing cover bolts. Also later on the threads on all the water pump bolts. This will prevent them from rusting up and breaking in the future when you replace the water pump or timing chain. You'll also want to install the balancer before you make your final tightening sequence on the timing cover. This will assure the cover is centered on the front crank seal and help prevent leaks. Once the balancer is installed, tighten the timing cover bolts fully.
Install the oil pan end seals and gaskets. Again just use adhesive on the gaskets to hold them in place. Nothing on the seals. When you get that done, take a small dab of silicone and put it in each of the 4 corners where the cork gaskets meet the seals. Install the oil pan and torque the bolts to spec. 5-8 foot pounds is sufficient. Do not over torque it or it will leak. You can use blue locktite on the oil pan bolts. I would not use red as they are small and will likely break if you ever have to remove them. Only use silicone though on the oil pan bolts that go into the timing cover.
