Frank:
You can easily use 2-part 5-minute 'waterproof' epoxy, even thinned no more than 10% with acetone or MEK, to make it absorb better into the wood. I use Raka epoxy, as I buy it in 1/2 gallon kits from
www.raka.com, but I did seal my washboard (rod holder) holes using the the 5-minute stuff.
What I do is to 'wash' the wood and area with acetone and let air dry. Put some cardboard down in the hole first to absorb any drips. Then get your epoxy ready, but not mixed ... yet.
Warm the WOOD, not the epoxy, with a hair dryer until warm to the touch, mix up your epoxy and paint into the pores of the wood core using a small disposable brush. Keep gooping it on until you know the core is covered. Better to put on too much and need to sand/file some off than to put too little.
FYI - marine surveyors recommend that all hardware secured to cored boats be removed and rebedded every 3 years or so. That might be extreme, but I to do that on items subject to loading, such as cleats et al. I have a '92 model ... no wet wood anywhere
.
