Hey T G-- that is SOME DINGEY! A bit overkill for fishing-- cranes for downriggers? Battleships for planer boards? As for Lake Erie waves-- for anything under about 35' will almost always find the Atlantic more gentle. 6'ers of the Atlantic are gently rolling and far apart. On Erie those same waves are crashing whitecaps and there may be 2 under a 20' boat.
Still, for someone with a purpose for such a vessel 4.5 mil sounds cheap-- until you begin to think no matter the purpose it will need not only an overhaul but refitted. Doubtful too many vactioners would be willing to accept seamans quarters. Docking fees--- 1st FIND a dock that would accept this vessel while not under a military control.A bit of perspective-- a 26' commercial (charter boat) dock with utilities ran about $975 per month. The fuel bill & maint would be astronomical. My license was for only up to 150 meters-- nothing like this,, not the displacement tonnage either. You are correct,,, it is fun to explore the innards of any large vessel-- more fun on an old one and with the history of this one you would surely find some interesting "stuff' tucked in nooks and crannies that working sailors found.
In the mean time-- don't tell Dan I had to go out a couple miles today as it was impossible to keep the 3# - 5# bass off the lines. Water was terrible for walleye as it wass flat as a highway... so it was perch time.