Having used panel adhesive myself and restoring a couple of cars that had panels bonded by previous bodyshops,I have some experience that I can relate to.
1.The glue is only as good as the guy applying it.If the metal is properly prepped and cleaned,it adheres well,but I have personally seen the stuff let go,probably from sloppy workmanship,which seems to be common with guys who like to cut corners and cheap out.You definitely do not want this stuff coming apart after the car is painted -then what ? How do you correct the problem.You cannot weld it now with all the glue in between !
2.I agree that it works well around wheel lips and the lower 1/4 ,as well as door skin bonding-it does seal things nicely to prevent corrosion-BUT-I would never bond the upper "splice" portion or in the center of a panel.YOU ARE ASKING FOR TROUBLE ! That joint will show up as a ghost line in the paint and will haunt you forever ! Then what?How do you fix that now ?
3.What do you do about the screw or rivit holes after the glue is hard ?Most guys remove them and fill it in with a dab of the glue BUT-I personally redid the 1/4's on a B body recently for a fellow who had bonded them on.After cutting thru the upper glued overlap to PROPERLY BUTT WELD the joint,there was rust at every screw hole because the screws pull the panels together so tight that all the glue is forced out ,leaving a totally bare unbonded section about the size of a dime.NOT GOOD
A friend bonded lower door skins etc on a pickup and after less than 2 years the overlapped Splices were all cracking and or ghosting.
Why on earth would you want to overlap two metal panels,and then cover the step with a pile of body filler ?This is a cheapo method .
Panel adhesive has it's merits,but let's not go encouraging any novices to go mess up their prized Mopars by hacking off their 1/4's and bonding on a panel only to ruin the car.
1/4 panel replacement is best left to an experienced bodyman who takes pride in workmanship and Butt welds the splice joints.Even a lap welded joint can cause ghosting problems because of the step.Come on guys DO IT RIGHT OR DON"T DO IT AT ALL !