So, here is the update, just to confuse things further. I spoke to the owner and he told me about another survey that had been done a week before mine, which didn't have any of these same problems. In fact, the surveyor said that the cracking of the gelcoat around the exhaust pipe was of no consequence! (!??!)

All I know, is that my surveyor took 6 or 7 hours to really go over the boat with a magnifying glass. I heard the dull unambiguous thuds myself...I saw the moisture meter practically sieze...I just cannot fathom how someone with a phenol hammer could take two taps on that transom and declare it fine!

Bizarre.

Makes one very nervous about surveyors!