See, You'll get Many opinions here.. I (I) like to use teflon tape.. Never have bought any paste.
Not saying Right or Wrong here at all.. Just what I use.
Teflon gets a "bad wrap" some times because of the user not the use.
I Carefully apply the tape on Some fittings like this one. I think it makes it easier on the parts together and when back apart..
Neatly done and applied on a few fittings like the pressure one IMO I don't have to torque the metal to metal as tight.. Not wearing the pipe threads.
Like the older style chaincase magnetic plug, the 1/8 pipe thread that usually leaks after a time because of In and Out sooooo many times..Then finally is inside the drain hole too far. and not sealing off.
1/8 taper in 1/2 to 3/4 inch is Very little. I have had a plug last me for years Only because I used Teflon Tape..
Just My Way
bubbie