Be aware of "ground" loops
I understand that your meaning of "ground" is the return path of the 12V circuit, not the green AC wire or the common circuit of the underwater metal.My preference is to run dedicated wires to each 12V appliance. However, a properly-sized 12V negative bus will work. The key is that is must be of adequate size for all loads.I absolutely would not use this bus for the return side of any electronics. Is is possible for appliances (like a motor or refridgerator) to put noise onto the negative bus and for this noise to interfere with proper operation of the electronics. For example, I have known refridgerators to cause a hum or staletto noise in a VHF while transmitting, making the transmission unintelligible. This problem is known as having a ground loop where there is voltage induced into a return wire such that different appliances "see" a return voltage that is not zero volts.In my boat, I established a 12V bus for both positive and negative about 6 feet away from the batteries. The busses were made of copper strips that are 1/4" thick, 1" wide, and 6-8" long. All of my appliance connections bolt to these busses. From the busses to the batteries is a 2/0 sized cable.And I also agree that wire should be sized for a 3% drop for everything if at all possible. This will minimize the annoying lamp dimming when appliances cycle too.Rich