What Gary said!
I went for the full teak replacement.
(Pictures are of the template and before the recore) Now that the recore on the port side is done, its time to install the new piece of teak plywood. I've thought about vacuum bagging it, but the aft section would be next to impossible to create a seal and I don't think I could line up the...
ericsonyachts.org
I also replaced the four fixed portlights and four opening ports at the same time. The materials (teak and glue) are not that expensive. I was able to replace the entire cabin side on my E36RH with a single 4x8 sheet of 1/4 inch teak veneer plywood. However, you need a source for your plywood, a way to get it home and a place to lay it out and cut it. The planning, time and labor are 95% of the replacement job if you have the tools, skills and motivation. It will be very expensive to have someone do this for you, due to the cost of the labor.
The patch and paint approach requires less time, skill and commitment so it can be done quicker and with great results by wider skill set. It's probably the better way to go for small areas of damage.
Either way, the source of the leaks has to be addressed. It's silly not to correct any leaking, crazed or fogged port lens while you're at it.
Mark