Yes and No......
I agree with most of the previous replies, but do think that documentation is an advantage for reasons given plus the advantage if you are in coastal waters. Documentation gets an "approving reaction" when visiting a marina or Harbor Patrol office (even, in our case, proof of attempt to document) and it will be good to have travelling through the Canal next year. However..... we sent in paperwork in April when we purchased and STILL haven't received our documentation number! BTW, it sure seems easier to get a loan with documentation. That is, the banks seem to prefer it.For inland waters it may be more hassle than it's worth?Michael O'