Andrew.
It depends on your needs, your skills and how deep pockets you have. As a home and a movable work platform, she could be great. The air-cond. may not be needed much if you use the ventilation tricks that Annie mention.
Rust:
First of all, she must be sound. If there is a rust issue, she will soon turn into a maintenance nightmare, so be sure she is good.
Those bilge-keels:
They appear to rob a lot of speed. In case your cruising will not call for them, cut them off about 20cm from the hull. The stubs will help as roll dampers and the cutting job will not ruin the paintwork on the inside of the hull. Removing these bilge keels will probably do more to performance (= fuel saving) than any other fixes.
Rig:
If I were to take on that ship, I would first try her with the existing rig. Most probably, I would find the (flat?) sails to under-perform. Since making new sails is so easy, I would make a pair of new Johanna-style sails. This time I would go for maximum camber, say 12% in the foresail and 10% in the main. I would not make the sails larger initially, but I would make them with only six, or even five panels. Later, I could install taller masts (quite an undertaking), and add one or two panels to the existing sails.
This should move the boat up from today’s 70/30 motorsailer to a 50/50 or even better.
Don’t expect to reach anything near the SA/Disp. ratio of smaller boats, say over 18. In Stavanger there is a 49’ ferrocement yacht, Samson, displacing 23 metric tons and with a sail area of just 107sqm. This results in a SA/disp. of only 13.5, or 4.7sqm/ton.
Samson still performs amazingly well, as she has demonstrated during junkets we had in Stavanger between 2004 and 2010.
Rudder:
Unless the steering response already is good with the engine shut off, I would fit an endplate of generous size to the bottom of the rudder, ASAP.
Arne
