Haha, I was wondering who would mention that valve first!
@Justin_NSA, that's the sink drain. And yes, all those ancient valves are getting replaced before splash time. It's a long term project, been working on her for over two years, with at least another year to go.
Thanks everyone for the help!! When I get it as clean as it can be gotten, can I just slap some pearly-white Bilge-Kote on it? Or will it need some kind of primer? I don't know if that's paint or gelcoat under the filth, but in other (less filthy) areas I cleaned with acetone, the surface temporarily turned tacky, and some of the cream color came off on the rag. Is that a clue?