I got courageous (read antsy) and gave it a try, cleaned up the hole a little where I boogered it getting the old bypass tube out, then used blue silicone sealer and stomped it in there with my 12 ton press. It seemed to move easily and no cracks formed so I think I'm cool...
It's starting to look really nice
(too bad it's sitting on a wooden crate instead of a 427 side oiler).
Thanks for all the input,
Chuck