I should fix the spreaders not because they are leaking water in but because they are letting air out, something that is as important. At it lets the air out really easilly the water pressure at the top of the mast forces water in. If the spreaders where tight the pressure inside the mast would keep most of the water out.
Anyway, sealing that mast that's too much work. I have a really limited time for sailing activities and I'd rather spend time on the water than fixing some bits or bobs... So my mast is leaking, it's not the end of the world as I'm sailing on a reservoir with trained safety coxswains present at all time <img src="http://www.catsailor.com/forums/images/graemlins/smile.gif" alt="" />. I've only capsized twice in 18 months, so it's not something that happens too often either.