I looked at that but couldn't figure out which ones apply. 

Is it  Original Application (except for nonresidents)–Submitted in an even-numbered year.  $29
Plus:  Penalty–for fees due in an even-numbered year. $15 x2 for the number of even years missed
         Penalty–for fees due in an odd-numbered year.   $25 x2 for the number of odd years missed
         Renewal (biennially)                                         $20 x2 for the number of renewals missed
         Renewal (biennially)–Penalty                             $10 x2 for the number of renewals missed
         Transfer                                                           $15

Does that sound like all the fees? Or am I missing something? If that is correct then the total would be $185 to bring it current. That seems low based on what cars normally cost with back registration fees around here. I am used to car fees, not boats.

I would save money for something better....you will see that owning a boat will run up a grip of coin. Be patient and something in your range that you could resell or just be happy with will appear. Regardless of what you get its an investment and all boats end up getting there share of that period....What you show is about a 500-1000 boat and after you spend 5000 or so on it you still have a 500-1000 boat. 

I appreciate the comments guys, and understand completely. I'm a hot rod guy and racer so we know all about projects that cost money and don't get used nearly as often as they should for the investment.

I was thinking this boat could just be a fun little family cruiser to get the kids into boating. The wife loves to be on the water, and I think the kids will too, but I'm fairly certain they aren't ready for a 70mph +, loud, 4 people max hot rod like I want. 

If I went into a boat like this thinking I just want something that I can run around in with little investment, wax it up, do some cleanup, etc, and go out and have fun on the river or lake, will I still be looking at a money pit and not have fun? My thought was that I could spend a few hundred bucks on this thing by doing anything needed myself, and then go tool around in it. In two years either sell it, or more likely pull the 455 and Berkeley out of it for some other project. Keeping in mind that the 455 would have to be sold to some Olds guy who just "has to have one".

I'm a very experienced car builder, and can do glass work, any electrical, engine work, etc. Am I still getting in over my head?

I seriously appreciate the advice and information. Oh, and does the pricing seem right on the back fees on this thing or am I calculating them wrong?

All good points. I appreciate it a lot. I'm going to keep looking. I've waited this long, it's not going to kill me to wait a bit longer.

How cheap does this boat need to be in order to be worth the Berkeley and any other little parts for another project?

Chad If You Want someone to go look atthe boat  with you I live in ontario. (rivertard).