Thanks for all the quick responses. I appreciate everyone taking the time. I agree with both sides to some degree. My biggest concern was stability. Do most of you agree that a glassed in centerboard will not affect the stability? I understand that the boat will not point as high without the board down, but I didn't think 5 degrees was that big of a deal. Am I right with that assumption? Does the lack of centerboard affect speed or diminish the performance on any other point of sail other than close hauled? For example, does the lack of down centerboard affect the speed or overall performance on say a beam reach? Also, will the boat roll more and be less comfortable to sail on?
One other concern I have is resale value. If I sell the boat someday prospective buyers will surely be thinking the same thing I am thinking right now. Thus hurting the chances of selling it at its suggested value or even selling it at all.
I really don't want to buy a boat where I have major repairs such as fixing a centerboard that has been glassed over, so I don't think I would do that. Plus from what I have read it is fairly expensive to restore a centerboard. Anyone have any idea how expensive this is?