I have a 1981 30' cedar strip/glass/epoxy
sloop, and it's been a good, strong, and attractive
boat.
The thing about these cold molded boats is that their condition is totally dependent on your ability to keep
water out of the
wood. If your
fiberglass layer is punctured under the waterline or if there are any areas of exposed end-grain (as occurred in our
boat at the top of the bow stem in the
anchor locker),
water will find a way in, but it won't find a way out (especially if it's glassed both inside and out). This can lead to serious
rot issues and compromise the integrity of the hull if not caught in time to dry out the
wood and reseal the glass.
The good news is that these hulls are light, strong, and endlessly repairable if you get to know wood and
fiberglass. The bad news is that these boats are sometimes referred to as "the bastard child of the boat market" because every construction is unique and these hybrid construction techniques are not widely understood by normal buyers, at least in the US. That said, I really love our cold molded boat, and our
surveyor said he wouldn't be surprised to see the hull last another 30 years or more if treated right.