If the panels are coated inside & out with a good primer (like DP40/401) and then painted with a catalized acrylic enamel, I don't think there's much to worry about with electrolysis.
The rear shroud wraps over the chassis flanges (except at bottom rear) so you don't really need a seam sealer until the fenders are attached (and even then, it will be a pain to deal with the beads/sealer at once).
For all the BMWs, I use a brush-on seam sealer I get from Eastwood. 3M has a similar product, but it's stiffer and doesn't flow on so well__you could probably thin it with solvent, but I just keep buying the Eastwood stuff.
I think if you used a butyl-rubber type strip-caulk, you'd risk really damaging the shrouds if they ever had to be removed (collision repair, etc.). Though it would lend itself to "packing the seams" after final assembly/adjustment, etc.