I use the rear cover gaskets on all of my IH Cub Cadet garden tractors. Most of the instances, the cover has not leaked in the 30 to 50 years of service with the gaskets in place. The engineers at IH installed them for a reason. We're not reinventing the wheel here. Go spend the $7 on a gasket and be done with it. As my dad always says, the cheap guy spends the most!
I'm not going to beat a  This is a topic overly discussed. There are many topics on this subject matter. 
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IH CUB CADET 1450, 72, 86, 1211, IH #2 CART, IH 56" SNOW BLADE, COLLECTING CUB CADET ENGINES
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