At the expense of having the entire SBO crew chime in here, figured I'd give my 2 cents since I manage the items in the SailboatOwners.com stores.
Phil did not realize that we do now have T-shirts which are custom embroidered with a boat name. They are regularly $24.95 but right now are on sale for $19.95. Near as I can tell, that is pretty competitive pricing, on or off sale. We can also add a simple boat design for a couple bucks more.
http://shop.sailboatowners.com/detail-shirts.htm?fno=400&group=1123
That said, embroidery on T-shirts can be tricky due to the weight of the cloth...the embroidery can gather the fabric and can make the fabric pucker. This is why we only use a quality, heavy weight shirt and keep the custom embroidery to a minimum i.e. boat name only. But, we certainly can add a simple design to the shirt as well - just send us an email or give us a call.
Regarding your question about silk screening Ed, this can be the preferred means of customizing a T-shirt. Silk screening, however, is typically only cost effective for larger print runs since you have the cost of making the screen and the price goes up with each color added. I'm sure if you search around though, you could find a shop that will do small silk screen runs.
Bly Berken
SailboatOwners.com