Rob...yeah, fill the toerail before the cut. Hadn't thought of that, but I'm sure glad you did. Come to think of it, I have not actually seen where the leak comes through from underneath, but I will have to access it if I intend to work from below.
The hole will have to be centered between two of the sail track fasteners, and any thickened epoxy placed from below will have to be mushed into place while avoiding the nuts on the sail track bolts. And you can bet I will be careful, because while removing the nuts on the bow roller bolts, I discovered that resin had been slopped on the threads. Between filing grooves on the bolt threads and bad wrench access, it took four hours to remove all 7 bolts.
I think it more likely that your water entry point is the hatch catch hole than the pan edges. The pan flange is screwed through a thin, but solid fiberglass lip. That catch bolt appears to penetrate an area that could allow water in, though. I cut my pan out with a jigsaw while leaving the pan flange still in place. It was easier than trying to pry the flange loose from the fiberglass deck lip.
I am installing a windlass and new bow roller to mount a 45 lb Manson. I am configuring the installation similar to the way it was done on Mark Reed's E-38. He posted a link on this site to some pictures of the install, which was done by a PO. I am going to figure out how to post pictures and post shots of the entire project as I go.
Dan Morehouse
1981 E-38 "Next Exit"