reparing the damaged screwhole
A tricky method is to drill out the hole with a special countersink screw bit (Fuller) for which you have matching plug cutters that produce plugs that are slightly tapered. Drilling out the damaged hole with a next size larger countersink would allow you to glue in a tight almost vanishing plug.
If you have any original mahogany from your remodel around you might cut your plugs from that. If you are changing the accommodation around, I found that the cleats inside the settees keeping the access hatches from falling through were mahogany on my Ariel. Also cleats inside the lockers and under the cabin sole - they might have been painted.
West Marine has some serviceable ready made, straight-sided mahogany plugs - relatively cheap. (yes: 5/16", 3/8", 1/2" - 10, 7 and 6 plugs per pack for $3.19.) This is your best bet I believe. You'd use them to plug clean round holes made with drill bits., not to cover countersink screws - you probably don't have the rail thickness required for that. Need at least 1/2" plank to counter-sink and plug screw holes. In my experience these plugs tend to be undersized a bit - when you glue them in you end up with a noticeable dark ring around the plug from either the glue or varnish - less noticeable when the grain of the plug is oriented with the grain of the work.
I'd drill a hole, sized to the chosen plug, in a small block of wood or good plywood - center the hole in the block over the damaged hole in the rail and clamp* it in place - then using the same drillbit use the guide-block to reem out the hole in the damaged rail. This method allows you to use your brad-point wood bits which make very clean edged holes in wood.
(Just took a look at my old settee rails. They're surprisingly substantial, so you might not be drilling all the way through. The brad points make a relatively flat bottom hole. Since it's cosmetic you don't need to go deep with the plug, especially if you epoxy it in.)
If the rails are quite dark you might fill holes with sanding dust and epoxy. 5-minute epoxy is the perfect stuff for this. 5-minute is also perfect for gluing in repair plugs.
Mixing mahogany dust with epoxy for a filler would come out quite dark. But down on the settee rail would probably go unnoticed after varnishing.
West Marine also carries Famowood wood putty in mahogany and teak color. 6oz can for $6.49. Doubtful you'll match the old wood - which would have to be spot-on for the different textured filler material to be unnoticeable. But it's quick and easy.
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* if your work is already installed and you screw up a screwhole, double-sided 'fiberglass' carpet tape might be used instead to hold the guide piece in place for drilling.. Use only the 'fiberglass' tape (Ace) which allows you to pull the damn stuff off again. It works on relatively smooth, non-dusty, flat wood surfaces - but you may have to clean off adhesive transfer with naptha or alcohol.
Good luck.
the philosophy of mixed fillers
Yer right, Tony, progress is the journey and perfection the goal. But if perfection is purity, it don't exist.
Improvisation is everything in tripping. Whether it's woodwork, love-making, or boxing. Improv requires certain knowledge of the form you are working in. Could almost say that without improvisation there can be no real progress.
Some people seem to be natural at it, the others, like one I know:o, don't make much progress.
You really do need to break the rules of the game, otherwise it's endless repetition without any style. You win unimportant battles and you don't progress.
Mixing fillers, Jazz, and boxing (my favorite sport to watch) are great metaphors for excellence. You can't fake these talents: "You got to know when to hold them, know when to fold them - know when to walk away, know when to run."
Progress is making decisions in mid air. There's a lot of that these days, great windows into life. I'm thinking skate-boarding for one. And sailboat racing.
"Beautiful work there, buddy, you didn't miss a beat."
Perfection shouldn't enter the picture.:rolleyes: