Beyond that, check out the article titled "Gordie's World" in the June issue of Latitude 38. It's a great article about a guy who bought a 38 year-old Santana 27, and then rebuilt and resigned it to be a go-fast sled design, with plumb bow, new keel, new rig, new cockpit, articulated sprit pole, the whole nine yards.
In the end, the cost was about 1/3rd that of a new go-fast boat, but don't ask how many hours were involved. His point was that there are a lot of good boats out there heading for the dumpster, that could be brought back to beyond original spec.
I believe the the original cost of the boat was $1,000 after he sold off some unneeded parts, but then about $30k was invested over 2.5 years. 50 gallons of resin, a roll of fiberglass, kevlar cloth, carbon fibre... you get the idea.