Dang - this is some great advice! I really feel bad now that I paid that much. My only thought was that the trailer is a really nice trailer, however a 1971. It has two sails, one nice and one that may be the original.
The centerboard is newer and is the newer white centerboards. Also, I think I have all the hardware. Some are in bags, they were removed quite awhile ago. Also, the mast step does indeed hold water so that was another consideration I thought of when paying the $500.
In my mind, I enjoy working on these type projects and with $100 - $200 in materials and missing hardware I will have a nice, freshly painted boat for $700. You can't touch a Laser in this area for under $900 - without a trailer.
Paul - does my material list look appropriate? Copied from my original post.
Does 6 oz seem the right weight for the glass?
What specific epoxy do you suggest for the glassing? West 105 Epoxy and 206 slow hardener?
What about the filler - how about West 410 Microlite filler?