I have the exact same problem as you can see from my recent post in this thread:
https://j30.us/ubbthreads/ubbthreads.php/topics/5859/Draining_boat_by_drilling_a_ho.html After drilling to drain, I've reglassed the hole and faired it. I sprayed the bottom with VC Offshore last night and am working towards launching next week.
I'll be speaking to a friend of mine who is a marine surveyor this weekend on what my options are and the long term impact, then post the results here.
[This message has been edited by Rhapsody #348 (edited 04-17-2008).]