I think I would throw up if this were my boat:

Sport fishing boat sinks in Woods Hole | CapeCodOnline.com (http://www.capecodonline.com/apps/pbcs.dll/article?AID=/20090930/NEWS/909300317/-1/NEWS01)

Looks like an Egg Harbor too. :eek:

Is this salvagable?

Not a good way to end the season, hope the guy has ins.

thats awful.

Those kind of sinking's are usually something simple like a hose clamp failure or a thru hull gone bad.