Been there
Did a bottom job (took off the bottom paint down to the hull & cast iron) in 95. You do not need to sand blast the keel if you have a grinder. One with changeable disc pads will work. Wear coveralls, protective eyewear & breathing filter mask. As soon as you have finished one side spray on a zinc primer. If it takes you longer than a day to grind off the rose buds from a side then don't spray, but then the next day go back with the grinder to dust off the surface rust. The surface rust will appear in less than 24 hours.Do one side at a time. After spraying then seal & shape with West systems epoxie. Give them a call, they are extremely helpfull. i get an occasional spot where I smooth sanded the epoxy to much and obviously took it back to the iron. After the epoxiy shaping I sealed with Interlux 2000 & botom painted with VC 17. We race in Lake Michigan. The keel shaping part is a lot of work but if all you are doing is removing rust & sealing the bottom its not a bog job. Talk to Interlux as ther is a short cut to eliminating the sanding between the 2000 coats. Get the boat set up for applieing the 2000 sealer and start on a friday night or saturday morning, pending the temperatur condition. Apply the next coat just befor the previous coat hardens, (just past tacky). Every 6 to 10-12 hours you will be putting the next coat on & can be done in 1 weekend. Then sand and put on the VC17.Good luck.PJ