O.P. Yes - definitely the way to go!
I keep ‘gasket paper’ in about 3 thicknesses in my shop, and making my own gaskets has saved me loads of hassle over the years, it’s not just the cost, it’s convenience. I’ve got to drive 5 miles minimum to get a spare for a small engine, maybe 12, maybe they have to order the part, etc etc. Doing my own means I can get on straight away.
I’m lucky in that I have a good supply of older wad punches that I use, but if I need a new one, even decent ones are inexpensive. I use the British made ones, but I suspect there is a U.S. equivalent.
I also have the interchangeable wad punch set shown below. I’ve found that to be very useful. So much so, that if I’m loading a few tools to go and do some workshop maintenance, I generally put that set in! Again, mines British made, but similar to the Mayhew set above.
Being able to make fibre washers is useful too. I have a small piece of lead that I use for punching on. Gives very clean results!