Well, it worked (but forgot the camera!). A friend and I tried one more time to get to the backing nuts, but not only would that require an inspection port and some probable cursing, there was no way to assure that we could re-fasten the new track once the old was removed. So, we drilled. Centered the new track lenthwise over the existing, and got lucky - when centered, the holes of the new track were over solid stock and not existing screws.
Drilled the first hole into the existing track with a #10 drillbit, tapped per instructions (used a Kobalt kit with #10 bit and 1/4-20 tap), and fastened with a #10 x 3/4" flathead machine screw. Funny how happy two 40-somethings can get when a screw goes nicely into a hole we just created. So with the first one done and holding the track in place, we proceded down the line until all the holes were drilled, tapped, and mated to their respective screws.
Test #1 - installed the new traveler and pulled with progressive tension to full muscle. No give or bend at all.
Test #2 - sailed in a mild breeze and mission accomplished: excessive friction eliminated, freely moving boom, easily adjustable traveler, and brand new mainsheet.
Regarding the "stacking" issue of one track on top of another, with the cockpit cushions in place you really don't notice. Unfortunately I live 90 minutes from the marina so I definitely will remember to bring a camera and take some pix.
Thanks again to all for the input and thoughts. This has been a real stymie for me and it's like having a new boat. REALLY great having all that spaghetti from PO off the cabin top and out of sight as well.