E31C Wood bung removal Version 2.0

This summer, I decided to strip the teak cockpit coaming on my 31. The varnish was just too far gone for more scratch and patch so back to bare it went. After sanding, I had a plug that looked a little weird. Since the labor to build back a varnish coating is a huge time suck, little niggling problems like this are best dealt with before any varnish is applied.
.

I like to centerpunch the plug first to stop any drill bit wandering, only this time I was hitting the...