Advice on IP 29

[Capt. Quagmire]

Hello All,

I'm new to the forum and was hoping to benefit from your collective wisdom! I am deliberating the purchase of my first boat; up until now I have been a one design racer, ex-Naval Officer, sometime carribbean cruiser, and recreational passage maker on friend's and relative's vessels. I'm constrained my a $60,000 budget, and have been considering an early 90's vintage IP29. If anyone has experience with these boats, I would appreciate hearing about it. I am aware of the typical characterization of IP's being sluggish to weather and in light wind, however if there are more drawbacks I would appreciate hearing them. They also seem to have some variation on engine capacity, as I have seen Yanmar 17-29 hp engines in them. I was wondering what the max speed under power would be with the smaller engine, and if they were ever considered underpowered. We intend to recreationally cruise the Chesapeake and are a couple with no children (yet).

Thanks in advance!