I have some wheel well deterioration where two panels overlap and are spotwelded together(not bad enough require replacing entire wheel well). Moisture between the panels has caused part of the overlapped metal to rust away leaving holes. I am thinking about repairing these areas by making a patch and using epoxy panel adhesive to secure the patch panels to the wheel wells from the underneath side. I intend to under coat the wheel wells after the repairs are made.
Has anyone used the panel adhesive and what are your thoughts?

Epoxy and urethanes are used every day in the collision shops to attach previously welded on panels. The difference is the panel is still welded on, the adhesive is used in non structural places and is not used as a sole method of holding a panel on, but along with welding.

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1965 Buick Gran Sport Convertible
1965 Buick Skylark H/T

POR-15 also makes a repair kit for swiss cheese type rust. If your top coating it with undercoat and trunk spray, it would work well in your situation and be good for rust coming back to haunt you. Just an alternative thought.

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Triple Black 69 SS 396