i made a bit more progress over the weekend ang got the neoprene glued on. single layer down the middle two rows and double layer for the outer two rows to match the contour of the hull better. i ended up using an entire caulk gun tube of 5200 and one toothpaste style tube as well.
Looks good. I'd prob leave the bay as-is. Painting isn't going to do much of anything and is in a space that nobody will see. The downside risk outweighs the benefits in my opinion, but up to you.