[Capt Terry]

Two years ago I completed by first transom, some of this info may help you get another season before your transom restore.
I suspected for 2-3 years my transom would need restoration. When I observed compression of the transom at the bottom motor mount bolts I installed an aluminum angle about ¼” x2”x2” that was long enough to bridge at or near the stringers and run the mount bolts through it.
Although I had no visible cracks in the fiberglass, there was mismatch of the aluminum trim pieces that surround the engine cutout. Bouncing on the AV plate also confirmed transom deflection.
Drilling several small exploratory holes and putting the wood chips in a baggy left in the sun, revealed water in all the bags. With a long off season facing me I started my Seacast restoration, where the instructions were to leave the fwd and aft fiberglass sheets of the transom intact. (The task would have been much simpler and quicker by removing the aft sheet and using the approach mentioned below).
In some real badly compromised transoms what’s left of the wood is easier to remove than mine which was pretty solid in many areas, resulting in hours and hours using a drill, chain saw and chisel to remove all the wood.

My recommendations:
1- Consider this info and other good tips that have been already provided to decide on whether to bite the bullet now or later.
2- Although my results were ultimately satisfactory, if I were doing another transom I would use Arjay and the approach that Jim on 77SceptreOB and DonV used.
3- You might want to raise the transom as well. I raised mine 2” and still avoided a jack plate, longer shaft and hydraulic steering.

Good luck!