I have been looking for a steel boat for about a year. I inspected the Waterline 45 "Kairen" while in Vancouver looking at another boat. She is very well designed and has successfully cruised the South Pacific. However, the last owner apparently cruised with small children and did maintain the boat as well as the original owner.
Waterline builds an exceptionally well designed and strong boat. I toured the Waterline facility in Sidney, BC with Ed and Marilyn Rutherford, the owners, and found them to be knowledgable and amiable.
Hope this helps.