I also have a 77 MA and my transom was shot, the floor had a couple of soft spots and the more I looked the more I found and I just redid the whole floor, the hatches covering the gas tank weighed a ton from the rotten wood, also the gunnels were also rotted.
I went 100% composite with zero wood in the boat I went with Nida Core for the floors and gunnels and a pourable product called Arjay for the transom, and I must have lightened the boat at least 300-500 lbs.
I hope I have not scare you but the end result once finished will be real nice.
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