Just my 2 cents worth on torqueing in inch pounds at the low end of the scale. I just rebuilt a motor in one of my jet skis (and broke two bolts while torqueing to 30 inch pounds). Some of the bolts required torqueing to 30 inch pounds. I'll save you the math - that is a little more than 2 ft. pounds. Anyway, when torqueing to such low settings -even 50 inch pounds, you are at the mercy of the torque wrench and the qualilty of the bolts used. The wrench may be accurate, but the bolt quality is such that it won't stand the specified torque. SS bolts - most people think they are the ultimate, but they will snap in half in an instant if overtorqued. If you choose to go the perfectionist route and determine each bolt should be exactly 4.17 ft. lbs., you can do a quick bench check on your torque wrench and maybe save yourself a headache - 1.set to the proper inch pounds. 2.On a flat, stable surface, set the socket stem in the jaws of an adjustable wrench. Wrench handle should be on the table in the direction you are turning 3. Turn the wrench in the direction to tighten and listen for the click or slippage in the wrench. When working in inch pounds, you can get a quick and dirty estimation of whether the wrench is working correctly or not. If the arteries in your neck are bulging and you are attempting to get a better grip on the wrench handle and push harder, you can bet the wrench is not working correctly at the lower settings. For settings as low as 50 inch pounds, I think it safer and are better off to sung the bolts up with a 1/4" drive and forego the perfection of torquing to the equiv. of 4 ft. pounds. If you're interested, Pep Boys sells a fairly good 3/8" inch pounds torque wrench inexpensively.
I had to drill the old bolt out and clean the threads with a tap. I work in die cast machine repair so I do this kind of repair quite often. My RTV is drying as I type and I will drive her tomorrow. Thanks for all the replys and remember to always question the specs in your repair manual.(Don't do like I did) 
