[willy]

I would take my 92 V and put a nice hard top on it with good rod holders on it(several) full canvass around it. A nice teak bow pulpit with power unit for the anchor.
The other major change would be either a Yammie, Suzuk or ETEC 150 on the transom. I would soda blast the hull and remove the bottom paint which it had when I bought her and do not need. I would do the hull bottom in a Petit Epoxy based two part paint and I would paint the hull sides in Awlgrip fighting lady yellow.
I would set up the stern with a auxilliary motor, like I had on Old School with a 25 hp four stroke for slow trolling or as and emergency get back engine. For that reason I would probably go with the Etec to keep weight down on the back or would do a relocate with one or both batteries. I would install some Bennett Tabs on her.
My hull is in great shape other than the changes I said I would make so she is a good canvass to paint on.
I actually saw almost this exact set up on a cherry V20 the same year as mine parked in a driveway down in the Point Pleasant area and stopped to look at her.
A V20 set up like that is just about the perfect inshore and light off shore fishing vessel and you could spend a great sum of money buying something new that would do as well. The draft is skinny enough to fish the back bays when you use the auxilliary motor, I had Old School in a foot and a half of water chasing some fishies with no problem. It is sea worthy and dry enough to run thirty to forty miles off shore and fish for any pelagics you have running and in the cold weather with the canvass hard top you could literally fish all year long bringing portable heat into it. While I like the bigger boats too, I don't want to tow them so I would say the V20 is the upper range of a fairly easy to tow boat and if that is in your equation then you will see my point.
Yea I think it would just about be the set up to beat.
Also, as I am sure many of you guys appreciate, the V20/V21 is one of the most beautiful boats on the water, the flair on the bow and the hull form along with their looks while underway is timeless, and what I call functional beauty. There are a lot of good boats, there are only a handful of boats that combine the classic beauty with capabilty of the V20.
JMHO