hi there!
same boat same problems;)
we are curently rebedding our deck hardware as good as we can.
most leaks should be gone if you recaulk the caprail.
theres water entering the caprail and finding its way to every screw attached to it.. the screws wich bolt down the caprail itself (theres two kind,the ones that are tapping screws and go right thru and the ones in the middle with a nut...those are terrible to get out) and of course the sailtrack wich is attached with you know how many;)
in the process we removed the stanchions and rebedded them. the old caulking (inside) stopped there and there was a 1' gap,perfectly for water to enter.
towards the stern its easier to work in the bullwarks then in front of the bow,since the bullwarks is not as tight....since we already took the interior apart,we are rebedding eveything.
make shure all the woodbungs on the rail are intact....many of ours came out and we had to sink&bung them.
while everything was open and accessible we also changed the stupid tiny deckdrains with 1" tube...the old drains always got clogged and were connected only via a kinked hose....
we did alot more upgardes to the small boat,watertank,bowsprit,engineroom hatch....feel free to ask!
christian