The one we had was wood frame. The wood looked good on the boat, it was the flexing all over that bothered me.
There were some deteriorating styrofoam under the benches in the cockpit, but if it went over, I have a feeling it would have found the bottom pretty quick. If I had kept it I was planning on pulling out the styrofoam and repacking the space with foam noodles. Even if the boat has enough flotation to keep it off the bottom and the gunwale above the waterline once you right it, the cockpit isn't self bailing, so you will be out there for a while with a hand pump or bucket. The few times we took it out I was very careful to avoid flipping it. Ours did have a roller reefing boom, which helped to decrease sail area quickly if the wind picked up.
The lake was White Bear. We live in East St. Paul and White Bear is only a 20 minute drive up 61.