Yep. That last 1-3 inches of foam is usually where the water is the most. It's amazing how much extra weight just those few inches can add to the total overall weight of the boat.
I'm in the process of removing the same thing (saturated foam) from my 16.5 Airslot. I've already removed over 350lb of saturated foam. I think I'm going to try something a little different this time. First, I'm going to use solid foam noodles (think of the ones used in swimming pools) instead of foaming in place to fill the voids.. This way I'll always be able to remove and replace them easily and cheaply if they get waterlogged. Second, instead of glassing the deck back into place like I did with my V21, I think I'm going to secure it back down with SS screws and seal the edges with silicone caulk so I'll always be able to remove it easily. The whole idea is to make it as easy as possible to remove the deck again if I ever have to replace the fuel tank or bilge pumps or filler hoses or.... well, you get the idea. I'm all about convenience on this project. 
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1987 V20 w/1987 150HP Yamaha on a Shoreland'r Trailer
1978 16.5 Airslot w/1996 120HP Force on a Four Winns trailer
1996 V21 w/1993 200HP Mercury on a Shoreline Trailer
All towed by a 5.7L Hemi Durango.
If God didn't have a purpose for us we wouldn't be here, so
Live simply, Love generously, Care deeply, Speak kindly.
(Leave the rest to God) 
Silence, in the face of evil, is itself evil. Not to speak is to speak, not to act is to act. God will not hold us guiltless.
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