Update...not so bright...

[Airslot]

If it were me, and your not me, I'd be tempted to cut and run. Do you want to build a boat this summer, or fish from one. For what you are going to spend putting her back together, I'd be tempted to look for a V in structurally good shape and go from there. You can do a lot of work on a boat and still fish it. Yours is no where near fishing right now.

THat said, you could spend this summer building a boat and have a completely awesome craft for the fall run.

That said, dollars and cents wise, I don't know what I'd do.