I'm a little gun shy about even mentioning RTV108 (clear) or 103 (black). I put a few topics up to include product data sheets, and people jumped all over it like I kicked their dog or something. The truth of the matter is this - GE produces a lot of silicone, and there are different formulations for different applications. Dow also produces some amazing silicone for different purposes. I can only speak to my experience with RTV.
RTV is an industrial grade, adhesive silicone that is FDA approved for food contact. It is meant to be safe. It has a sheer rating of 40lbs/sq in. It is the only thing I reseal tanks with because it isn't going to keep me up at night. Can you use GE1? Sure... why though? It's not as good for this application (as you can see in the pics). I would never use GE1 in a structural seam...
The DIY forum is meant to be a forum to express ideas and creativity. It shouldn't be a place to tout unsafe practices as a standard.