If they're bolted to a big chunk of wook.. replacing the wood and then sealing it from moisture intrusion is a very good idea. As for removing the core and potting it with thickened epoxy, that's always a good idea on a cored deck or hull.
Having the chainplates bolted to the hull via a turnbuckle is useful, since you can adjust the tension on the chainplate. However, you really need to make sure the hull section you're attaching it to is properly reinforced to take the load of the chain plate, especially, if the chainplate was attached someplace else to begin with.
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You know what the first rule of sailing is? ...Love. You can learn all the math in the 'verse, but you take
a boat to the sea you don't love, she'll shake you off just as sure as the turning of the worlds. Love keeps
her going when she oughta fall down, tells you she's hurting 'fore she keens. Makes her a home.
—Cpt. Mal Reynolds, Serenity (edited)
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Still—DON'T READ THAT POST AGAIN.