I replaced many hundreds of teak deck plugs in my GB42 using 3/8" SPOT WELD CUTTER, essentially a smallish hole saw. The reason I used this device was because the deck was originally laid with ring-necked boat nails and the thinning deck boards made the hole depth too shallow for new plugs. The spot weld cutter went right through the nail heads leaving the shank which was then pounded deeper into the hole with a 3/8" drift. I could then insert short, SS small-diameter head, square drive deck screws at a slight angle to clear the nail shank to prevent any squeaky deck planks. I cut my plugs from scrap teak using a Lee-Valley tapered plug cutter. Finished of with wood glue the wet excess of which can be cleaned up with water. In the rare event a plug hole got wallered out a bit, I switched to my 1/2" spot weld cutter and 1/2" tapered plug cutter, and the result was not noticeable after some time passed.