Well I went and looked at the FORMULA today as me and the wife needed a day away from my family. It isn't as nice in person as the pictures make it out to be cosmetically, but for the most part it is structurally sound. He redid the rear 1/3 of the deck and glassed the deck directly to the transom all the way across, but he only put in 1 knee brace right in the middle. The stringers in it all sounded solid via the tap test, but he glassed the drains over in the cabin storage compartments and the one was filled with water and had been sitting that way. Also he didn't use any 5200 on the bow rail and water has been seeping down around the mounting bolts all the way through into the cabin, so it's only a matter of time before the rotting begins in the front deck. Also he didn't re-inforce the starboard rear lifting hook and it has pushed the transom in about 3/4" over about a 8"X10" area as it is a lift kept boat. He did alot of nice work, but neglected alot of basic parts of the rebuild as well. All and all it's a nice FORMULA, but definately not a concourse rebuild. I'll probably go and look at the SEACRAFT this week as well since it is a running boat for $6500 now.