Well, I guess I should weigh in here, too. Somewhere else on SailNet I posted something about this boat last year when I bought her.
My boat is Kolahoi - she is the only 48' boat Ray made. I bought her in Feb 2010 in Miami and then had her trucked to Pierside Boatworks in Charleston, SC.
The retrofit in this boat is substantial. Fortunately the hull is in great shape and most of the interior is great, too. At the moment I am having all new standing rigging made and am working on repowering. She had a Perkins 4.108 that was underpowered for this 48' 19-ton displacement vessel. I'm looking to go with a Yanmar 75-hp.
This boat, although large, has a centerboard. At the end of last year I had a new centerboard made by Foss Foam in FL (they make hundred of rudders each year for many boat manufacturers).
When I bought her she had no motor, no transmission, no electrical system. All of that seemed manageable. Since that time I have found dozens of other things needing replacement. Bit by bit I am making my way through the project.
I'm hoping Kolahoi will go back in the water some time in September this year. We'll see how that goes.