Rubrail & Cap/Liner

[plusone876]

I decided that it is finally time to remove the rubrail and tackle the cap/hull issues that I have been seeing. Upon removal of the rubrail, it appears that the cap is in worse shape that I could have imagined. My original plan was just to drill out the rivets, seal the hull and cap together with 5200, screw the cap to the hull with SS sheet metal screws, and then replace the rub rail and seal it with silicone or 4200. Now it appears that I should fill all of the holes and damaged areas with thickened fiberglass, marine tex, or some other product (or fiberglass the cap and hull together), seal the cap and hull back together, rescrew, etc. I have a number of questions but I don't know where to begin. What are the steps, materials, procedures, etc. that some of the professionals on here would take/use?

I am new to boat repairs but am extremely handy and am at least good with working with fiberglass on surfboards.