The timing cover gasket i received from summit racing with my timing cover was just a thin stretchy rubber cord that i would imagine would work, but i haven't seen or heard of anyone using this. Has anyone had any experience with one of these? do they work alright or should i throw it away and get a new one?

?

Just which cover did you get ?

http://store.summitracing.com/partdetail.asp?part=SUM-G6301W&autoview=sku

Did you notice it shows:
"Gaskets Included: No"
So I've no idea what the "thin stretchy rubber cord" is.
Buy a gasket unless there's a groove for the "thin stretchy rubber cord".

It used to be under suggested parts list before, but apparently its no longer there. I will buy a better one