The post you mentioned is on the Cruising Forums still and covered most of your questions. Short answer is: No you don''t have to Doc. unless someone, like lender or insurance (or commercial use & maybe if over certain displacement?) ,makes you. Going rate for service to document you is $400-$500, takes long time even if applying for transfer, like you would, to finalize. Other forum mentions new "expedited" service available, it''s not $500 a year.