Hi All
Wow thanks for all responses and links. I will spend some time reading them. This is my first trailer sailer and my first attempts at offshore sailing owning my own boat. Lots of lake and inland dams experience. Oh and about 13 years on vessels of around 35000GT upwards to around 50000GT... but then we had nearly 85000HP to argue with the weather!
One of my subjects I studied to be a marine engineering was "Naval Architecture" and we spend most of that course doing stability calculations and damage/flooding scenario calculations, reserve bouyancy and so on... so the calculations is not the issue. I have worked out that my boat will need around 1,5 cubic meters of polyurethane foam to stay afloat to be a life raft.
Storage space seem to come up in terms of a "why not". After crawling through the entire hull, re-lamintaing the entire deck and relaminating the entire transom I am very familiar with all the spaces available to install floatation and then still have space for storage. My reply question to that would be: "What the hell do you store that needs such a large volume?" Taking a 10-day trip into a Namibian desert in a 4x4 vehicle has taught me that space is premium and you pack only what it needs to survive comfortable = not live like a king. There is no watering holes, no convenience stores and no fuel refilling stations along the way and the only comm's is a satellite phone! There are also massive "waves" in the desert but they are a bit sandy!
What am I going to use the boat for: I actually will be sailing out of False Bay in the south of Southern Africa, Simons Town being my home base. Day trips, with occasional over-nighter mostly to start with is the intention. I'm very aware of the limitations of the boat structure, swing keel pro's and con's etc. so not trying to turn the boat into what it's not = a blue water cruiser. However even the best weather reports go wrong and the swell/chop and wind can pick up very quickly in the bay.
Boat structure: I have strengthened the deck support structure, doubled the deck support in way of the fore and aft shrouds, taken the forestay load down into the bow, the aft stays loads down into the transom and one thing my boat was built with was the upper shrouds have metal tabs built into the bilge spaces with metal flat bar linking then tabs to the deck fittings. PO also went for stainless, 6mm rigging alround.
Local regulations: A life boat/life raft is required if you plan to go more than 15 NM offshore... unless the boat has sufficient built in bouyancy to make it float! That in itself is my motivation for exploring this option. Just crossing the bay to another club on the opposite shore takes you more than 15NM offshore. Sailing further afield up the West Coast of Southern Africa is doable but there is no real safe anchoring grounds around most of our coastline.
To me, trying to squeeze in 1 and 1/2 cubic meters of foam seems really easy with the vast space available in the boat. As to air floatation = thats only as good as the leak that lets the air out while you watch the boat sink! Foam is way more space convenient than plastic bottles.