Ed H:
I would agree with you. At $10/gal for 100- why would you try to reuse it. Especially considering that you really don't know what level of protection you have after it is diluted. If you purchase the 50- it is even more diluted if you still have water in your system.
Just another thought!!!
The problem is, and I'm guessing here, that you don't even know the actual freeze protection rating or glycol content of the -100 when it is new in the bottle. The bottle probably does not say (they only label the bust point, which is not tested by any ASTM recognized method). Generally -100 products begin to freeze at about +10F. Second, the vendors are basically exaggerating; Dow Chemical, the manufacture of most of the PG antifreeze and a respected source of product data, shows minimum bust ratings of -63F at any ratio (the information is in the link I posted above).
It seems obvious that anyone winterizing their boat would have an automotive type antifreeze tester, so that they KNOW what the freeze protection is. Be aware that you need a tester calibrated for PG (refractometers read both).
Neither EG nor PG have appreciable toxicity to fish or marine life in general. They do contribute COD. Spent antifreeze from cars can accumulate some disolved metals (sub ppm) and oil, but not even this is possible in marine systems (a trace of iron, perhaps, which is harmless). I would love to see it recycled, but I'd worry far more about bottom paint and bilge oil; those are actual hazards.