Just got an email from an engineer Island Packet. Turns out the ballast in the PY is 500 lbs less than the SP, and he said the full SP sail rig would make the boat too tender.
So my idea of turning it into a SP seems to be out, which is fine because I really didn't want to spend that much money.
He recommend a shorter mast and manual winches, and they are coming up with a price. It needs to be pretty cheap IMO since I probably won't be able to recoup much (if any) of it, and I have a feeling the Factory installation will not be inexpensive.
Any idea what a "cheap" main sail and jib might cost to install? $10000? $20000? I have no idea.
I would agree with his recommendations. Check out his quote & suggestions for mast height, sail area, and standing rigging.
Then look around for sailboat that is totally thrashed but with decent sails with similar mast height and sail area and a tabernacle setup that will work in your forward cockpit area. Mast mounted manual halyard winches will minimise changes (costs) to your boat.
You can probably pick up something like this for not much more than $5,000.
Replacing all standing & running rigging with new will cost about the same, including labour. I'd recommend this on any older rig.
Mounting the mast and tabernacle is the unknown cost. It will depend on how well it suits your boat. Look closely at how the SP is set up, and see what the IP engineer recommends.
The forward cockpit makes your boat somewhat unique, and limits certain mast and tabernacle setups.
Other than that its just a bit of wiring for the masthead lights.
So yes - about 15 boat dollars would do it, IF you can find the right rig to suit the job. Trying to install the wrong one may cost triple that amount.