If you are going to renew any of the woodwork, do it with Mahogany, oak or teak. Finish with Yacht varnish. Kenneth Eames.
Got my friend coming over in a week or two to investigate. He just finished working for Schmidts (company salvaging the costa concordia) so he knows his stuff. Sounds like it shouldn't be too much work to get it going again. although I'm very tempted to sell it an buy myself a speedboat...