I think just a gasket cement on one side to hold should be plenty. Make sure the cover is flat around the holes so it gets good equal pressure between--just like the oil pan. Maybe not necessary, but I think I would moisten the cork with oil so it doesn't spin dry on start up. There was also an arbor that fit over the crank to help in centering the cover with use of a feeler ga. I think that was fairly important so the seal was not subject to off center wear. I would at least eyeball to center the crank in opening as much as possible.

That particular tool was made per Packard spec and use but a trans shop should have something that works. There must have been more than one trans with that blind bushing arrangement although maybe not in the same size.

Do you have to pump the gas or just open the throttle to keep it going? Assume standard shift?

You really need proper tools to extract and replace bushings. Some you can make do with home made or other methods but those in converter are going to require something to go behind then expand and grab and pull.

On the bushings in general, you need to be careful you don't scratch, distort or get them started crooked & mess up the seat area they fit into or you've just wasted your money. They are a bit fragile and don't have a lot of tolerance before they leak as bad as the old. Also have a good look at the shaft areas they fit around for any signs of wear. A new busing won't help a worn shaft for very long.

Have a look at service counselor Vol 28 #12 for the tools and proper method of using themhttps://www.packardinfo.com/xoops/html/downloads/SC/SC-VOL28NO12.pdf The service manual also has some instructions on removal/replacement.

The biggest problem with doing anything with a TL car is the bar is designed around a certain weight. There was limited adjustment available to accommodate options or models and that's about it.

Too heavy a body and they are overcome so you do what you can to increase the twist by increasing the front link length. That only goes so far. They found they even had to build a few bars with slightly greater twist to handle fully optioned Caribbeans. If the body is too light, the opposite happens.

Unless the weight is about right, the suspension will either ride at one or the other bump stops instead of in the middle or in trying to adjust, the links can get to such length that full range can't happen.

Believe there was one fellow who was trying to lower the entire car so managed to change front links and also added a spacer under the rear axle for the additional in back.

I'll leave the details of shelf to the experts on that year but do believe carpet would be wrong and maybe not do what you want. Have you considered using something like Dynamat or another of the sound absorbing/insulating materials made today under the fabric or shelf. Many types are available and maybe not the cheapest solution but probably do a better job.

http://www.dynamat.com/

http://www.jcwhitney.com/mylar-faced-foam-sound/heat-insulation-with-vinyl-lining/p2002966.jcwx?TID=8014524FT2&zmam=15972153&zmas=21&zmac=129&zmap=12966G

Check out the suspension and steering section of SMhttps://www.packardinfo.com/xoops/html/downloads/servicemanual4650/Section3.pdf The available adjustments & procedure are mentioned. Think this 46-50 is correct manual for yours but the adjustments are pretty much the same over the years.

Make sure to remove and check the distribution tube while you're at it and believe there is a thread on here saying the freeze plugs on some engines are a slightly oddball size--don't remember what size or which engines so check that out before buying a stock one. Parts manual says 2" but make sure it isn't a 32nd more or less.

Apparently you asked about a single valve. He gave you the specs on that one but the radio has, depending on models, 5 or more. He is saying just the one won't do much if by itself or if something else is wrong. Here for example is instructions and a schematic for I think a 22nd series radio which has 7 plus a rectifier so 8 valves in total.

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Another interesting idea. Hopefully someone will make sure the body & frame is properly prepared. I think there was a thread last month re the driveability of one of the show cars because of structural issues. Think it was the Pan American.