Hi Richard,
One I fitted my Andersen mini bailer I just chose the gasket thickness that left the bailer level with the outside of the hull. I don't know if this is correct or not, but it is what I did. Before fitting I sealed all the edges with epoxy, then fitted the bailer with a liberal coating of bath sealant to make a good seal. I occasionally get a small leak through the bailer when some dirt stops it closing properly, I get a bigger leak if I forget to close it before I launch the boat and a veritable gush when my spinnacker halyard got sucked out the bailer. My fault really as I removed the guard so that I can feed a piece of rope through the bailer when on shore to remove any water that gets through the cover.
HTH
Andy J