If these are the standard deadlights many of us have on our 80s boats, the piece between your fingers is not really the seal, it's simply a molding piece for the frame of the window. The actual window seal (glazing) is right next to the glass and sits down in the frame. I guess it depends on if you need to fix a leak or just fix the look of the crummy molding.
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Like many in the threads above, I'm in the process of replacing mine with the kit sold by Catalina direct. It's proving to be an accurate fit for both the glass and the gap. A picture of the whole window will help us confirm it's the same window.
The consensus seems to be that if it's not leaking now, that it will start eventually and replacing it is a good proactive step to prevent water damage. I would concur as I have to replace plywood on the inside (previous owners' neglect) and it's not a pleasant project.
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