[CalebD]

Y'all better lay off Cap'n Fred, ya' bunch of disagreeable disagree-ers! If it is web hits he wants then he shall probably get them. I tend to agree with Cam that he is prolly just a good ole sailor who is trying to share something with the web-public. Hey, at least he is as web savvy as Al Gore but does not claim to have invented the internet!
As others have mentioned, I too take issue with the 'depreciation schedule' CFG laid out. I suspect that his numbers are closer for new boat buyers. We bought our 35 year old Tartan (1969) around 2002 for $4K. Was there any depreciation left to depreciate? I doubt it, in fact the thought never occurred to me that I could depreciate a 35 year old sailboat. Depreciation is for people who buy stuff that is brand new or close to it. I can only hope that one day I will still own a 'Classic Plastic' vintage sailboat that is in good enough shape to get more for it then we paid for it.
That said, Cap'n Fred speaks the truth that there are a lot more costs that some people may not think about (SeeWhich? not withstanding - I think someone peed on her Cheerios). After owning and maintaining 'this old boat' for 6 years I can safely say that we have spent about $16K between mooring/wintering/repairing and minor upgrades - and we do all the work ourselves. That seems to work out to about $2500 per year including (cheap) club dues.
If I had to figure out a dollar amount for every day sail or longer trip I am sure that I would probably gag but I do it because I love owning, caring for and sailing my own boat and that in and of itself is priceless (as stated previously). It seems that I also own 2 smaller sailboats so I am a real glutton for punishment but the costs of operating the smaller boats are significantly less per year then a keel boat which cannot be easily trailered.
As for the rest of you nattering Nabobs of negativity, get a life. Cap'n Fred was just passing along his subjective experience to people who might actually benefit from his experience. His numbers may not add up but his heart (and words) are in the right place.
I think I am gonna' need a few painkillers after this.