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Those two pictures threw up more red flags for me than the parade on "Stalin Day".
If the keel is iron, then it's partially dissolved inside the fibreglass encapsulation. If the keel is lead, then the SS keel bolts are partially dissolved. Something has rusted and rusted badly, and is carrying that rust from inside the keel, or from holes in the bilge to the crack in the keel stub.
The joint has not only failed, I would suspect that if the boat didn't take on water when launched, that the keel might fall off.
If that dimple isn't moving, then it might indicate rot in the knees or the frames, which in that era might have been encapsulated wood...once water gets it and stays in, eventually you have to cut out the mush to good wood, scarf in new wood and re-glass, a job that in some boats involves partial dissembly of the interior furniture, which may be glassed into the frames.
Run away. Run away now. This boat looks finished to me. Plenty of fish in the sea.
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