Can't comment as for how well it works but I have considered doing the same thing. On the 15f project I worked on, I used an aftermarket fuel level sensor that required the tank be cut and drilled for hold down screws. It just used a cork gasket to seal it and I never had issues with it. The 15f tank was really thick to start with so I wasn't too worried about cracks or anything like that.
I do know there are specific sealants used for bonding stuff like that if you don't use a gasket. I don't remember what number it is but permatex makes one.
Sean