I'm not an engineer, nor do I play one on TV.
I was an automotive technician for 30 years so I learned a LOT about sealing just from that. However, it was 4 years working in the Chemistry Machine shop and labs at the University of Florida that gave me a wonderful education on o-rings. My favorite times were working in the cryogenic areas where we had to deal with extreme colds and very high vaccums on the order of 10 -12 torr (sorry, no superscript available) on a daily basis. Patience and proper o-ring sealing ettiquette are essential to any success.
On a Scuba tank, the neck has been flycut to accept an o-ring, and the valve flange is used to "capture" and compress the o-ring. Once the flange makes solid contact with the the neck the torque of the valve becomes moot. The sealing of the o-ring will occur on the bottom of the flange and the wall of the flycut in the neck.
What is FAR more important, is having clean mating surfaces. Things link dirt and debris and even gaps from pitting or peeling paint create areas in which the o-ring can extrude and eventually fail. When you service a tank, you can usually see evidence of this extrusion taking place. It's important to gather information about these mating surfaces by examining the old o-ring so you can avoid ANY potential for o-ring failure. This is also why you should never re-use an o-ring.