Hi Glen, a good dose of copper or nickel anti-sieze grease would have been preferable on the threads and along its length, on the threads to help in tightening and undoing when the time comes again, and along the length (of all the long bolts at this timing cover, if this is the one we are talking about?) as eventually if and when you get a water leak and water travels along the bolts they will rust and sieze into the aluminium cover resulting in snapped bolts when the time comes to undo them. But not to use loctite as you will have to apply a greater than usual torque when undoing to break the hold of the loctite. Studs are much more preffered instead of these long bolts if you ever get a chance in the future as I replaced mine with studs so your not twisting on the bolts when tightening the thread in the block, with studs you are just tightening a nut giving a better clamping effect for the gasket. If you want to whip out this bolt and grease it up all well and good.
Regards,
Scott