ATI Silencer 4 rev.2 - install Q - AS5?

Just got an ATI Silencer from SVC and started to install it on my BBA x800 Pro. The instructions say to apply thermal paste to the GPU, but my Silencer came with a big grey thermal pad already on it. . .

I've never used a thermal pad for anything, but as I was looking at it the base of the Silencer is flat (no raised area for GPU contact) and I wasn't sure if AS5 would be thick enough to make proper contact with the core. For now I've got the thing mounted with the TIM pad - no AS5. Has anyone installed it without the pad? AS5 only? Seems this would be better, but I didn't want to guess wrong.

Temps are great now. I'm running on an Ultra-D and the card is SO close to my nForce Chip, XP120, etc. that I wanted to move as much of the GPU's hot air outside the case as possible. CPU temps dropped ~2C at idle and GPU temp dropped ~20C at load! Very exciting if I can do even better with some REAL thermal interface material!

I'll go ahead and partially answer my own question. . .

Didn't find any better directions on the Arctic Cooling site, but under the product details section they list some updates present only on the rev.2. One of them is the "pre-applied" TIM. I'll play as-is for now & then re-install it with some AS5 later.