just clean off the old and reseal.
I use the permatex black silicone high heat gasket maker, do it right and the rub rail looks like a part of the cap
It's not letting any water inside anywhere that I can tell. There may have been a couple spots between the back rub rail and the transom top cap, under the cover between the two, but I already fixed that.
I don't know about that black permatex. I can see me making a real ness on my white boat with that stuff. Permatex is good stuff though.
Telephone Huh? Well howdy neighbor. The folks live in the suburbs of Allens Chapel. I don't get up there nearly often enough though.