Bad idea. I am willing to bet that a qualified marine architect wasn't really consulted on this issue.
In general, replacing the centerboard by filling the hole in the centerboard trunk with lead is not a good idea. The centerboard served a function other than ballast. It also served to add underwater lateral plane area, which helps the boat sail to windward. Losing that area may reduce the boat's ability to sail to windward drastically, and also affect the balance of the sail plan, which was designed for use with the centerboard deployed. Also, if it was a weighted centerboard, made of steel or iron, it is likely that the stability of the boat has been compromised a bit as well. With the board extended, the center of gravity would shift downwards, as the weight of the board moved down... that doesn't happen with the lead in the hole.
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You know what the first rule of sailing is? ...Love. You can learn all the math in the 'verse, but you take
a boat to the sea you don't love, she'll shake you off just as sure as the turning of the worlds. Love keeps
her going when she oughta fall down, tells you she's hurting 'fore she keens. Makes her a home.
—Cpt. Mal Reynolds, Serenity (edited)
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Still—DON'T READ THAT POST AGAIN.