These are really beautiful boats. They were designed by Carl Schumacher. Carl is one of my favorite designers. He designed the racer/ cruisers the Express 37 which are one of my favorite designs.
The Alerions are designed to be very traditional appearing above the waterline and are quite modern below the waterline. There were a limited number of teh 38''s built (last I heard only 8 but that was last year) and I also understand that Alerion may have discontinued the 38 and it is not listed on their webpage.
The boats were built by TPI the same company that builds Freedoms and J-Boats. They are of that same general build quality. The 38 certainly has a lot of charisma and depending on how you look at it has a lot of performance for a traditional ketch or is a little slow (They rate in PHRF 129. Put that in perspective 129 is about equal to the rating in my Laser 28 and 40 seconds a mile slower than my early 1980''s era Farr 38 performance cruiser), cramped compared to more modern designs like Sabre or Tartan(and judging by the pictures in their ad perhaps wet) for a modern boat. I have not sailed on one and have not even seen them out sailing so this info all comes a bit second hand and should be treated such.
My general sense is that these are really neat boats for soemone who does a lot of weekending and daysailing. They are beautiful to look at and since so much of sailing is about the aesthetics of what we do, and how we feel about the boats we sail, if this boat pulls at your heartstrings, meets your sailing needs (and you can afford to buy one as they are rediculously expensive) then I suspect that an Alerion 38 will be perfect for you.