My entire starboard side below the waterline reads wet too. I know I have wet core near the keel as I drilled a hole to drain the water. Got out over a gallon, then plugged the hole. The source for me is the exhaust - the transom stbd side sounds hollow (e.g. delamintaed). Just splashed last Thursday and it hasn't sunk yet! I plan on doing work next off-season. I say sail it.

What hull number do you have?