I had to see what was under the orange. Looks like I got lucky. The original gel is in as good a shape as the white. It has a few little nicks and dings but so does the rest of the boat. I still need to do the starboard side and pull the rub rail and strip under it but it's getting there.
So far this is the only bad spot.
I plan to run some vinyl similar to this to cover the bad spot. I will flip the Indian head on the port side so he faces forward and replace the word "Service" with "Power" or "400 Cu In" or "6.6 Litre"