Thanks to all for the welcome. Decateur - there is so such a thing as a stupid question, I should know, I ask 'em all the time, just ask my wife.
Anyways, here's my plan and rationale. Any feedback welcome.
I intend to use the boat for fishing in small lakes and large rivers. I live 1 block from the Grand River in Ontario, and hope to take advantage of that fact and get out on the water WAY more than I have, which has been pretty much zero. Though not far from Lake Erie/Long Point Bay, I think this little boat would be too shallow and tippy for that. I fish in Northern Ontario a couple of times a year and am basically considering this boat to replace my canoe, as I think the days of paddling and portaging into Algonquin Park have given way to more drive in fishing with a motor. I figure the 12 footer can still go up on a roof rack or in the back of a pick up and down logging roads, and be far easier than trolling/paddling out of a canoe.
My plan for the boat is a three stage plan. I want to get it serviceable/presentable for a spring trip to Quebec in May, which I consider Phase 1. Phase one would include general clean up of the boat, remove and replace the odd job hardware on various parts, remove and replace transom, install seats (likely clamp on for now) &rod holders, and figure out if I can transom mount a 9.9 Johnson and a trolling motor at the same time. I also need to have the 9.9 that came with it serviced. It runs, but the low idle is f'd, and I have absolutely no mechanical aptitude at all, so that's an expense I can't avoid.
Phase Two would be to sand/scrape/paint both the interior and hull. I've read the Steelflex thread, and am intrigued and intimidated by the process, but will likely try that or something similar. I think it was Bufford's mod where he used what looked to be a pretty robust non skid paint on his set up. I'm not sure I want to add decking to this boat both from a weight perspective and given how I'll be using this boat. If I'm going to modify the seats or anything else structurally, this is would happen in Phase 2.
Depending on how much I'm using it after Phases 1 & 2 - hopefully lots, especially locally, I'll make a decision about Phase 3. If I'm using it lots on the Grand, I'll keep it and figure out what if anything else I want to do with it. If I'm using it and get a bad case of 2 foot-itis, I may consider selling it and buying a 14, as I think with two growing boys that will hopefully want to join me on the water, I could use the extra room.
Oh yeah, I also have a trailer project I'll likely be bugging all of you about as well.