Two years ago, I removed the binnacle and guard to have it re-powder coated. During this process, I also had a new stainless steel plate fabricated for the pulleys because the old Edson plate was rusting quite badly(it was painted steel). The area of the floor at this point is balsa cored and the balsa is exposed when you remove the assembly. There was no signs of rotting but I wanted to prevent it so I used my router with a rabbeting bit to hollow out the balsa and filled with an epoxy slurryto seal things off. The feet for the binnacle guard were just screwed down but now are thru bolted with large fender washers. While I was at it, I installed new electronics with a Nav-pod mounted on the binnacle....Why not since it was all new anyway!!! (at least that's the justification I used)
By the way, the new powder coating looks fantastic(as good as new), about $80 to do the binnacle.
At some point, someone will grab the guard and yank themselves up or will be thrown and need to grab ahold of it, so it needs to be quite stable. Might be a good spring project.
Tom