OWNING A SAILBOAT IS "FAR MORE REWARDING THAN YOU HAVE ANY right to expect," says Walt Hodge. His co-captain and com­ panion, Janet Perkins, agrees wholeheartedly. Together they have invested a great deal of love, a bunch of energy, and more than a few dollars into a Ranger 28, now known as Gilded Lily, which they sail on Guntersville Lake in northeastern Alabama.

Lily was neglected, perhaps forlorn, when Walt and Janet found her. But, they're quick to point out, she was not abused. She called to them, as only a boat can, and they bowed to the inevita­ ble. The threesome formed a lasting bond. "We're still as delighted with her today as we were nine years ago," Janet says.

There was a hint of exhaustion mingled in the triumphant ex­ hilaration when Janet wrote to the publishers of a then very new Good Old Boat magazine in September 1998: "A friend loaned us a copy of your publication and we are hooked. What a welcome con­ cept for those of us who nurture and enjoy the 'oldies but goodies.' We are currently restoring to health a 1977 Ranger 28. Gilded Lily will be back in the water in a few weeks, looking like a debutante, behaving like a fast woman, and making our sore backs and flat­ tened wallet seem a small price to pay!"

The words in that letter are among the most frequently quoted in Good Old Boat slide presentations and brochures. The letter hangs on a wall in the Good Old Boat office. Janet summarizes beautifully what so many sailors are experiencing with their own good old boats. So after all these years, my husband, Jerry, and I simply had to meet Walt, Janet, and Gilded Lily. We were not to be disappointed.