I just went thru
this on my Cat 22 project boat. There must have been a thousand BB to pea sized blisters in a band about 8 to 10 inches wide from the water line down all around the boat. I had scheduled to have the gel coat pealed, but this didn't happen due to scheduling conflicts with the peeler guy and myself. I ended up grinding all the bottom paint off to expose the blisters and opened up each one with a Dremel tool and a ball nosed burr. Luckily, the boat had been out of the water for several months and all the blisters were dry. I filled them with Marinetex and faired the bottom. I applied 4 coats of Interlux 2000 barrier coat using very short nap rollers and ground it smooth with 60 grit paper in a random orbital sander hooked up to a Shop Vac. This was the same system I used to remove the bottom paint. I finished off with 4 coats of Interlux VC-17, applied with foam rollers, for a racing bottom. This took 36 days in total with many days off due to weather and other obligations.