There's a lot of deck repair videos online. You won't be re-inventing the wheel. Here's my take: if I HAD to make sure my decks were solid, I'd study the deck, remove all hardware, leave the toerails (which sit on the aluminum flange) and consider cutting up the largest sheets possible, using the center of the "smooth" (no nonskid) areas separating sections of decking for all the cuts. Then it's a matter of slowly lifting the deck and separating it from the balsa, scraping out the bad balsa with a light hammer and heavy duty steel blade, bedding in new (carefully), laying West System over the top of it and putting the large sheets back down. There's some cool tools out there for the miniscule work (you have one), and I picked up one of those mini belt sanders (1" wide?) at Harbor Freight that would undoubtedly prove very useful in re-attaching the fiberglass deck overlay. But it's a freakin' project. I'd probably go so far as to fill and re-cut the chainplate holes and everything else. I don't see it as overwhelming. Just a longer-than-usual project. I've done decking before, but we have way better, finer tools than the grinder I used to cut it up back then.
The biggest pain will be getting to the stanchion bases and the genoa track. That's dismantling woodwork below decks, pulling bungs, marking parts and eventually re-assembling the furniture.
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