You guys figured it out.. the cleat is for the furling line. It runs through a copper fair lead in the coaming and then forward just below the portlights. I stole this idea from a Cape Dory 33 that was once in the family.
ebb.. I'm not to worried about the mix of wood types in the repair pieces (i.e. beech vs. mahogany vs. teak) since the joint is sealed with epoxy. Were this some form of marquetry applied to the surface, I'd worry a lot more. The repairs are two seasons old now with no sign of movement.
cheers,
bill