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I also have a 1979 Montauk, and you are correct, the console cleats are mahogany. BW had been using mahogany, lightly coated in Urethane, since day one for console, pilot seat and cooler cleats. these cleats were used for the "black vinyl flat face" consoles of 1977-1982.

The problem when they are used for a console is that they never get serviced and recoated in varnish by the owners, while at the same time often being in a wet environment. I have heard of many situations where they rotted and the console came loose. The Outrage III "lectern" consoles of the 1971-1972 Ribside 21 also had this problem.

If you are going to leave the console at floor height, my suggestion would be to make them, or have them made by BlackDuck, out of teak.

In my case, mine were still in good shape, so I re-varnished them with 6 coats, and installed them on top of the 6" teak riser set I am using. Up higher, mine always stay dry.