Thanks for all your posts. It gave me the info and, more importantly, the courage to tackle this. I bought this boat off craigs list for $1500, knowing the motor lost oil pressure. Pulled the motor and broke it down. Piston sleeves need polishing, new piston rings, new cams and cam shaft. While motor is out I thought "why not wet sand and put new paint on...
I opened a can of worms there. Started pulling seats out and found some rot. Being a carpenter I know that where there is rot on the surface there is usually rot in the substructure. I had my fingers crossed because the deck was new, but when I did a core check on the joist it showed rot also. Crap! I'm gutting her. She's had her top off before because there is a thousand rivots and two pounds of silicon holding it down...good times.
Well after pulling the brand new deck someone put in I found rot, water, and mold. There was even a little cockroach under there. They used "Great Stuff" to foam in a couple of sections. The foam was literally soaked. After removing it all the boat was probably 200#'s lighter. The floor joist are rotten, so I'll be taking those out as well. Looks like it's going to be a "SUPRA-BOWL SUNDAY"..HA!