Jim,
I own a 1979 Morgan 382. The boat represents a good value. While It is not an ultimate boat. it has few bad vices. In a 12-15kt breeze a
GPS track will show that it is capable of 6-6.5kts holding 45 degrees to the wind. While feeling solid and comforatable. It has lots of storage. Looks good on the water. Has an enclosed prop so crab pots are not a problem. Several cruises to the Med have been made with them. Buy a 383 or 384. The later models had several subtle improvements. The boat design benefits from an very active website at
www.morgan38.org. Most All of the issues have been addressed in the discussion forum and people are very happy to help. doing a search in the discussion forum will yeild several exchanges about the virtues and shortcomings of the boat. Probably the biggest shortcoming is the design of the achor well. I have solved this by glassing it over and mounting a
windlass.