I have never been much of a fan of Craig's List, but I know some folks have done pretty well there. It seems there is a lot of garbage on that website that it is not worth my time to sift through it.

I figure, if someone is serious enough to sell a $50K boat, they would advertise it properly. But, again, thats just my opinion, and if you like Craig's List; then by all means, use it.

1) Can anyone recommend any reading on the basics of how a boat works? I feel I am most deficient in the anatomy of a boat. I'm just looking for the basics: bilge pumps, ballasts, etc.

You don't need a book when you have us.

2) Does anyone have any firsthand knowledge of the current prices for the boats I'm looking at? Anyone buy a 25' midcabin cruiser recently in the great lakes? I keep a close eye on boattrader.com and craigslist, but there are surprisingly few sales to establish my expectations on...