Here is a look at the below deck view of that cleat pictured above.
This cleat had been bedded 29 years prior to this photo with butyl, and frustratingly, with no beveling of the holes. Despite the lack of countersinking/beveling it was used for 29 years covering over 50k+ nautical miles. Butyl is an exceptional sealant and the deck, even after 29 years and 50k+ miles, was still 100% bone dry, not delaminated and confirmed dry with a moisture meter and soundings.
You can see the pure white core and no signs of moisture damage.