I can tell you first hand that a closely-monitored roof can have a leak under the Dicor sealant, which showed no checking or cracking. This was a corner where water can stand in a small puddle. I now think Eternabond tape is the only prudent way to seal those points.
On places where water does not stand, Dicor lap sealant is a good product, and your thoughts are correct.
As to things on vertical surfaces, do not use lap sealant. Use Proflex RV caulk. Any upward facing edge of anything that is attached to the RV is a candidate for leaking, or caulking, depending on your point of view. :) So this means marker lights, tail lights, windows, door frames, furnace, HWH, fridge grille... anything and everything. If the edge faces upward either straight or angled, water is possible. Awning anchor bolts are usually terribly sealed, at least on the RVs we've owned.
To clarify, let's say you decide to caulk a window frame. You only need to drape the caulk over the top and around the top corners until you get to the sides. No need to caulk the sides and bottom. Apply that same thought process to anything on the vertical surfaces.
The most egregious areas:
Roof seams at front and rear caps, especially corners.
Top of gutter trim pieces below the roof.
Bottom trim on cabover of TC and Class C.
Any corner trim that is upside down or angled upside down.
Any exposed fasteners, like the awning bolts mentioned above.
Of course anything can leak, but those things seem to be the worst offenders.
And I agree with Kayteg that IF you have something leaking, take it apart and renew the internal seal first. But the caulking regimen I described above can be a belt and suspenders approach to prevention.