Kenner was a builder of moderate cost ''character boats''. I believe that the Privateer was their largest model. For the most part these boats were charactures of traditional sailing boats rather than truely accurate replicas.
Kenner had a tendancy to miniaturize their interiors to get the appearance of offering a lot of boat for the size. As a result the berths and other aspects of the accomodations were quite cramped.
Build quality of the basic hull and deck structure was quite good. I helped rebuild a smaller Kenner and items like the rigging work, cabinetry and electrical components seemed a little shoddy.
I have not sailed on a Privateer 35 but I have sailed on similar staysail schooner rigged boats. While the schooner rig used on the Privateer is an aesthetically attractive rig, by any objective standard they are complex rigs that require a lot more work and skill to sail well than a more modern sloop rig.
Schooner rigs are higher maintenance rigs with significantly more rigging and sails to wear out and replace. Sailmakers who are familiar with properly cutting sails for schooners are getting far between, and badly cut sails really hurt the sailing ability and seaworthiness of a rig that is already a compromise in terms of seaworthiness and sailing ability.
To me these boats would make fun daysailers in an area with predominantly stready 10 to 15 knot breezes. They would not be a particularly good choice for cruising boat or a passage maker.