I can't answer if you would be disappointed with a new 115. I know I certainly would be.
As for the transom, I would be putting a bit more Glass, with a Larger Overlap, along any Interface. I have seen many repairs done where the transom was cut out like yours, new wood installed and a narrow strip of chopped mat across any interface/corner, waiting to fail.
On yours, I would use a heavy Roving where the Transom and Sides of the boat meet, with a 6 in overlap, than another layer, being one large going at least a 1 1/2 feet forward of the transom, covering the entire Transom with that Roving(notched for the Stringers), and going along the other side. Finally, another Layer between the Stringers and Transom, but longer. Might be a bit Overkill but...