Everything can be fixed
I'm new to sailing myself, but am not new to the mechanics. My forst thought is that everything can be fixed. It's just a case of how much efort and money you're willing to put into it. My G-26 has a foxed keel so I can't specifically comment on the details of how to freeup a swing keel. I did however read just lastnight in a G-26 manual that I downloaded that they figure most often the keel is stuck due to foreign debris. So it may just be a case of getting into it and doing a good cleaning. As for sailability I don't think I would want to take it out on any large body of water, some of the smaller lakes in ontario might be good. If it were me, and the boat was a good deal I would buy it with the ultimate goal of fixing it properly.Steve