I prefer Wellseal as you can paint it on with a small paintbrush,thus cutting out the great
oozing blobs of jointing compound that some folk seem to believe is a sign of expertise.
Strictly speaking compound is only necessary on gasketless joints, which is about the only place it was originally used; most paper gaskets are fine with just grease, I cannot remember seeing any new bike with using compounds on paper joints.
Also the thinner the paper the better in most cases.