[macojoe]

Well that will work to a point and I think it is better suited for stringers and solid wood.

For plywood, I don't think your going to get what you looking for??
Plywood is layers that have rotted. The rot fixer is never going to reglue it all toghter.
Then you still have to find some kind of glue that will glue the deck back to the fixed rotted wood. There isn't much that will glue wet wood, so your going to have to cut up the syuff thats peeling and fold back to get that area to dry before you start glueing

IMO, cut it out and fix it the right way. The money you waste on the quick fix will just be wasted.