I am at the same step. I used rubber grommets through the stainless firewall. In Tony Bingellis book, he says to put an asbestos washer over the top before the stainless shield goes on. Obviously, the book is a little out of date because they ain't no asbestos washers no more.
I made a 1/4" thick fiberfrax insulation covered with .003 stainless foil as a heat shield (see the thread under safety for firewalls
http://www.vansairforce.com/communit...all+insulation) on the engine side of the firewall as described here.
It looks from the thread on firewall sealants (
http://www.vansairforce.com/communit...ad.php?t=72087) like I would be okay to seal with a big glob of 3M Firebarrier 2000 and cover with the stainless shield.
That same thread shows what Dan Horton has done, which is probably the single best approach to firewall penetrations I have seen. Read through these two threads and I think you questions will be well answered.
Regards,
Michael Wynn
RV 8 Finishing
San Ramon, CA