I have heard the same thing, but have yet to see a wood 1992. So that will be one of those things we'll just have to wait and see. From that information, there is a very good chance the comp is composite in this discussion.
To the OP, many of our boats looked rough when they got them. But show us, it's always nice to see the before and after pictures. Plus, we might be able to help you with things we see to save you time, money, and energy.