Originally Posted by Ka_sea_ta
I under stand that the MK1 was originally 50ft but several owners stretched them to 55ft
Correct, quite a few have the 5' extension. Unfortunately not mine. As I recall they were built from around 1978 - 1983 only, and the production run was about 98 boats. Forward cabin layout options were staggered 3 bunks, island queen or 2 cabins, each with double bunks sharing a head up next to the anchor locker.
Most of the production run were as in the pic, but there were at least 6 flushdeck variants on the same hull. They have a really nice master cabin aft, retain the midship queen cabin (normally the master) and have 3 heads. Not all boats came with a flybridge either.
Engine options were two Lehman 120's, or Cummins 555 V8's, 270-320HP each. With the former you stay in displacement mode and top out at 11 kn. With the latter you get into SD mode and can get to 17 kn, but you need trim tabs to help get there. A re-power with a pair of 500HP engines would get you a bit faster and likely semi-planing better, less bow-up attitude. There were also a few boats delivered with Cat 3208 NA's, 210 HP each. You won't get above 11 kn with these.
Many have had, or now need, replacement of black iron fuel tanks. The root cause is rain ingress via the engine room vents, vertically louvred with no dorade protection. Some owners had covers for these vents. If not, tank repair takes time and money as you remove engines etc to be able to remove and replace the tanks.
Like most Taiwan built boats of the era the teak decks are also usually at least partly repaired by now. The issue was screw penetrations into balsa core, with failed caulking allowing water to migrate to the screw holes.
But, you get a lot of boat for the money. And a great layout. Active fin stabilisers and a bow thruster are very desirable improvements. Happy to respond to any specific questions you might have.