I had to Teflon tape the threads of my intake bolts on my 360 to get it to stop weeping oil up the threads and puddling up below the bolts. I just did the upper half of the threads, and that fixed it for me.
I figure I better take those bolts out one at a time and use a thread sealant then torque them down. I have Teflon Pipe Dope that's used for high pressure, high temperature work.