As a hydrographic surveyor I tend to over analyze the sonar depth issue so forgive me if I do. The main issue for us is to understand how close are we to running aground at any one location. I have heard some people want to know their keel clearance and some want raw water depth adjusted for transducer draft so they can calculate an estimated clearance where they are, based on tide, wind etc. You also have to remember what datum your chart is using. If its mllw then chances are you will have more water than the chart would indicate. However safety dictates that we not get into that grey area. I have found along the north coast of the Gulf of Mexico that I usually have more water than the chart indicates (high tide or normal tide, south winds, compared to chart datum). Myself I only calculate my transducer draft as a check to actual soundings taken. When taking a manual sounding you have to consider the density of the bottom also. If you use a hammer on hard sand your probably ok if you measure the offset to the hammer head and tie you tape to compensate for handle length etc. (remember we want a true depth). Some places in south Louisiana are so soft you cant feel the sounding lead hit the bottom, it just slowing sinks into the slush. I refer to the bottom as "chocolate pudding). A 12lb lead with a 6 inch bottom generally will stop at a density of what a 200 kHz sonar will penetrate. However that gets iffy depending on other things that have nothing to do with keeping our keels out of the mud. I digress, on my boat I pick a nice calm day and take a manual sounding on a hard flat bottom and with my boat level (no heel) I record a sonar depth. the difference is your transducer draft or the difference between the raw depth and the sonar depth with whatever transducer draft is set in it. (I reset mine to zero draft before the test). Also don't forget the effects of shoaling from rivers and streams. All bets are off down here after a hurricane and no mater what the chart says you have under you, a submerged log on the bottom will probable not be on the chart. I use a draft on my Catalina 27 of 4.0 ft and I get nervous in 8 feet of water. logs, pilings, wrecks, shoals, etc. I prefer raw water depth so all I need is my chart and a tide table. The rest is my margin of safety for how shallow do I want to run. My two cents. And by the way I have run aground in some "chocolate pudding" and according to my sonar the water was 3 feet deep. it was so soft I sailed along in it for over a mile before I finally ran out of water and had to retreat. So much for that short cut. LOL