What is the proper orientation for 340 small block dipstick out of the 4 choices below A,B,C, or D? Also do i need to put small amount of rtv around base or its not necessary?
I orient mine in the C position. Can't say for sure that's how they originally were.
You might need to bend the tube toward the block to get it to fit behind alternator brackets and belts. Also, looks to me like your tube is longer than stock, but maybe it's just a later motor than mine.
Tube should be tight enough fit into the block that it doesn't need sealant, but it wouldn't hurt, either.
Somewhat related, I follwed @CFD244 and @Jadaharabi advice and tapped the opening 1/8 NPT and threaded in a 1/8 NPT to 3/8 compression adapter. Cut the 3/8 tube to match height.
All small blocks I remember are in "C" position