No body guessed….. Net Holder.
Backstory…. One of my personal peeves is a net swaying in the wind in a rod holder or rocket launcher. It just doesn’t look right to me, in fact I hate how it looks. I doubt I will ever carry more than 12 rods (my existing capacity) plus whatever rocket launcher I mount to the pilot house roof. So I decided to make better use of a rod holder insert and convert it to a net holder. The small piece at the end locks the net in place and hopefully will keep it there as I bounce through the waves. Bad part is that it is specific to that particular nets dimension but I’ll worry about when I have to. Given it isn’t the prettiest thing I have ever made but it’s functional. It had to be horizontal slats so the net frame wouldn’t catch. The depth is juuust deep enough. I had to bend the net a touch to get it to fit right. This is the best I could come up with for now to serve the purpose. Keep in mind it gets more teak trim around the insert including that wide factory base trim that will cover the small piece.  Eh for looks but very happy with function.  Told you it would be something no one has ever seen…. At least I haven’t.

The only way to get the scuppers out of the water in the aft is to shed some weight back there. You can step down to a 2 stroke 90 hp, which will push the boat fine. The FBs don't jump up on plane like a V hull with strakes, they just start cutting through the water and start rising up toward the surface, going faster as they rise up. The hull is also known for "bow steering" - you're cruising along and hit a wave at the wrong angle and all of a sudden you've changed course 90 degrees. People have added a keel from about the 1/2 way point all the way aft to help the sliding that can happen when turning.
You can also cover the scuppers on the aft side of the transom with ping pong ball covers.

Your foam inside the stringers may be saturated with water. That will require some major surgery to repair. Not hard but major.

Thanks for your reply.  Access isn't the greatest, but doable.  It is the style with the female round threaded base that's screwed onto a straight pipe, without Base built in.    I figure its the original one that AS used...without the base.

Do you know what the downsides are without the base built in? Potential to break maybe when you're turning the ball valve on/off?

Thanks for your help.   

Hi Guys-  I did find a photo of the transom and it shows "Flatback" (no V)  I would say slightly rounded at transom but not the V.  Small sump on Centerline at transom with 2 through drainholes. Storage under aft end of fwd deck which opens up and out, large enough for spar 6 gallon tank and hoses, etc.  Foredeck opens to anchor and line storage with through hull drain.  Very Tough workable boat,  I like it.  I like that it is way less than $10K.  Amazing that it is 50 years old. 
   So what does that leave me for best power? (Present is 150 hp Evinrude 2 stroke)  Would like to shed some weight aft so the scuppers work.  Many thanks/ Bob