You might watch this YouTube video...
http://www.youtube.com/watch?v=o4U-008X9oA
I used these products (Dryflex) to restore a traditional bay window ground and first floor - 8 sections each with opening lights above - 32 panes in all - and was most impressed - a little expensive at about £300 but most satisfying and far, far cheaper than replacement windows.
I am not an agent for this company - Dulux Decorator Centres sell it.
http://www.repair-care.com/uk/default.asp
http://www.youtube.com/watch?v=OBobNs52b0k&NR=1
http://www.youtube.com/watch?v=3g9m5H3XCZU&NR=1
Good luck...
Peccavi
January 2011