I epoxy, then add hardware and wire. I figure the best place for water to enter a wood plug is through the end grain. Where does that appear? On the ends and in the swivel hole. By epoxying first I can cover those areas well. I do as Dave suggested with the lip, a touch of glue on the underside. When I repaint, I'll often just leave the lip in place. I've pulled the lip out too, its really not that hard.
Jigman
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