Thanks again guys, all of your opinions matter since the goal here is to obtain the "most correct" understanding to not only help myself, but others too that may be reading along.
Maybe time to put this one to rest. I began with what I thought would be a simple starter overhaul and paint job and managed to make a mountain out of a molehill.
SUMMARY: Doing the job all myself was the original plan but as indicated earlier, the internal windings (field coils) were frayed & tattered so the "cleaned" parts went to a local rebuilder who switched out the main body of the starter with another donor core and assembled the starter. Knowing I was wishing to obtain a concours painted finish, the rebuilder simply primered the body of the stater. Upon receiving the starter back, I noticed no gasket material under the band (the basic root of this thread), I asked the shop what product was typically used there. This shop claimed they typically would use Nomex material for areas like this on an "as-needed" basis. (the strip measures aprox 14-1/2" x 1-1/2" x 4 mil thick) and sent me a strip to use. I trimmed the provided Nomex strip, installed it under the strap and spray-gun painted it semi-gloss black lacquer myself, following my best understanding of details seen in other threads. Hind sight being 20/20, I could probably have used a smaller paint gun (or puff-bomb, rattle can) instead to have ended up with a little less overspray on the nose cone mounting flange. I've since removed the light coat of overspray on some of the mounting flanges of the nose cone using a small brass wire-brush, then I masked off the main body of the now already black starter and edged in a lighter coat, fading in a bit closer to what Bob usually sees and what pictures Jeff provided earlier. I feel I'm now a lot closer to ready for the ink stamp (still working on details for that)
I hope this thread helps others who step out into this job as a do-it-yourselfer. Thanks again for all of the input of experience.