Bought an H31 last year
We bought our '87 H31 last year about this time and have since put over 30 days on the water with her. This was our first larger boat also, and I had a learning curve to tackle. First of all, it is a great boat. The living quarters are fantastic for a boat of this size, she sails great (heels a bit though), and is not all that difficult to work on. We have six of the stock winches that work just fine. The boat had smells when we got it, but by doing some undercover work I found the source and took many of the steps described by Steve D. and others to get rid of the standing water issue. Our boat now smells fresh as a mountain breeze. Well, it still smells like a boat, just not a stinky one, if you know what I mean. Ours had a new rudder when we bought it, and no known mast compression problems. We have the original engine with a two blade folding prop that puts us just under hull speed. It has one small leak in the port rear when fire the hose on it. Haven't really tried to fix it yet. We replaced the traveller and sheet pulleys because I wanted more purchase on both. If you want to single hand, you should consider this also. I have learned that everything is very fixable on these boats, and the expense depends on your resourcefulness. We looked at a lot of used boats over the years, and feel that all things considered, the H31 was a great boat for the money. Other boats of this size and price have just as many or more potential problems. Bottom line, we like it!