Attached above is a 10 minute sound file discussing the first 4 or 5 frames back from the bow where the major portion of rot was discovered that will be replaced when the new no soak bottom is installed.
The major portion of the rot was discovered in an area on the starboard side from frames 3 to 5.  Indications on the outside of the boat are that the rot may extend under the one remaining floor board and actually start between frames 2 and 3  Rot has migrated from inner planking to outer planking to ribs in some of this area
Note - previous repair of inner planking was made probably 15 or more years ago by removing some inner planking and replacing with epoxy and or bondo. Above line is epoxy product, below line is original diagonal planking.
Frame station #4 starboard side
Bolts from rotted trailer bunk.... when trialered by previous owner.... has protruded through inner planking - see above arrow in Port photo
The findings above, the buckled garboard planks (not pictured) and the desire of the owner to be able to moore the boat without worry lead to the owners decision to replace the entire bottom with a no soak bottom.
Hull and Structural
Cosmetic repairs to consider
Five planks are weather cracked - not beyond repair - repair may be more costly than replacement.  Need to consider new planks here. Also may want to replace section of covering board.
Note "Dutchman" spanning two planks. Just need to decide if we want to keep the original planks (preservation) or replace the planks. 
Cockpit divider damaged - Suggest removal, re-glue, reinforce with hidden framing and replacement - after bottom replaced and we know where we are on budget etc.
Below are possible future scope items that need to be considered as we progress through the process of hull and structure repair
1954 Chris Craft Sportsman 20 foot
Engine and Mechanical
Engine compression test results
Cylinder     Compression
2110 - good
4105 - good

Suspect sticking valves. Valves are in engine block and accessible for adjustment

Intake manifold has broken casting - can be welded or replaced... haven't priced either option yet. Suspect welding to be $100 - $150 and new casting to be $400.  A used casting may be in the 200-250 range and is what I'd do if it were mine.

The trailer was roadworthy and exhibited no problems in towing save one tire might have been out of balance at 65MPH.  Slightly above 65 or slightly below and the vibration disappeared.

Roller supports can be modified to convert trailer to wishbone style. I suggest a lengthening of the tongue,  modifications to winch stand, loading guides, LED lights  and possibly a prop guard.

Sunday morning compression test.
The process begins!
Paul and Martina Cundiff, owners of Woodies Restorations.
Link to Owners Password Protected Page
| Initial Evaluation | Bottom Removal | Bottom ReplacementStrip and Refinish |
| Initial Evaluation | Bottom Removal | Bottom Replacement | Strip and Refinish |
270-866-2628 [email protected]
New Toll Free Phone Number   866-921-2628