A Modest Budget Cruiser
I believe that the 34 comes with a fin keel (not centerboard like some of the other models)with both a deep draft 5''7" (or 8") and a shoal draft 4''6" so performance is helped slightly, especially the deeper draft. They displace about 11,500lbs with close to 4700lbs. of ballast. Most O''Days came with a universal Diesel. of the 2 O''Days that I have owned (O''22 and O''28) the 22 had some deck delamination
(but I expected that in a 31 year old 22 ft.boat) My 82 O''28 is dry as ever. They are not built like Abrams Tanks that would be suitable for ocean crossing (although I know of 1 O''Day 27 that crossed the Atlantic...twice)BUT they are SOLID Coastal Cruisers that can handle a blow. They perform best on a broad reach but can handel going to windward in heavy seas.
O''Days were not built to be the fastest boats but to get you from place to place safely. There are better quality built boats BUT are alot of lesser quality built boats as well (IMHO)
The 34 has LOTS of room below. Heck, my 28 below feels like most 30 footers I''ve been on.
Electrical work is iffy on O''Day''s. Wireing was not at the top of the list when these boats were manufactured and probably could use an upgrading.
Although O''Day went out of business in 1989, they have a large and loyal owners group and parts are easily obtained.
Best of luck in your boat search!!!