A couple in our Yacht Club have been living aboard one of these for some time. They have done trips around Vancouver Island without incident, which involves some marginal but potentially rough offshore legs. They seem quite comfortable. This is in the Vancouver BC area, where winters are damp but relatively mild.
Performance wise I think they are not bad considering their bulk and accomodation, certainly a step or two beyond the full keel boat but not up to a typical cruiser racer. Considerable displacement combined with a very heavy single spreader rig is going to make this boat less than a spritely performer.
However that is obviously not the intent - as a liveaboard or long term coastal cruiser I think it would be a good compromise. A 14 foot beam on 42 feet makes for lots of space.
The large house windows would required modifications, I think, for any extended offshore plans.
I have not heard of any serious defects, though the typical blisters and deck leaks will no doubt present, as they may on any boat getting on in age. I can't speak to the coring, but try to find older articles in Pacific Yachting magazine (they may even be posted on their website). These boats were built in the Vancouver area and got some press when introduced. Build details may well be found there.