Thicker holds itself better when the belly pan tried to deform it but I think .040" is still a good option, .032" may be a bit weak unless your belly pan is already formed well. You may want to double check your existing channel and decide if you want both angles to be 90 or if something like 94 may work better. I went with 90 and just adjusted as I went. Prior to installing a shot of suitable primer can't hurt either.
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1960 Sovereign 33' Pacific Railroad Custom
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