Thanks for the replies. I've been leaning toward the weld solution anyway since anything else appears like a jury rig. It's possible that the weld was compromised. The boat is older and who knows what happened before I owned her. Maybe I'll have the port side done "just in case" with a larger diameter ring.
As for Catalina's they're fine boats - my father had three (22, 27, 30) and I worked for 2 dealers a VERY long time ago. I'll stay with Sabre though (2 boats over 20 years).
Sabre 38 "Victoria"