Radiomariner, thanks for the advice. Always good to get the opinion of those more experienced in these things. I have made a note to give this some attention when next in dock.
Blackrose, I know all I can do is STBO but to summarize my own understanding, it seems that most boaters are probably like me, not quite sure what sort of blacking has been applied in the past and obtaining a different recommendation from every boat yard you consult.
Entrusting a boat yard to undertake the work, as I did last time, is probably something of a lottery regarding chemical compatability, standard of cleaning/drying before application, curing before putting back in the water.
My new blacking has lifted in a line below the kitchen sink drain, whereas below the engine exhaust outlet, where the old coating appeared to have dissolved a little, the new stuff is perfectly sound. A Jotun bitumastic was applied this time.
What I do know is that most people seem to worry a lot about what's going on below the waterline - but at least you're keeping a close eye on it so you won't get any surprises. The best policy! If I'm feeling brave I might try the Isleworth Drawdock next year.