I had a 1964 Thompson- 16' with 65 merc , used it for 4 years
Beautiful little boat- should be brass bolts with nuts and washers tieing the strakes together-
ran about 30 with a 65 and three people on board.
Never leaked when we launched that I remember- but as noted strakes can lead to some weeping, leaks.
IT will certainly be a major project restoring her
Ours was varnished on the decks and inside- absolutely gorgeous- have seen a lot of older boats that have been abused with sloppy interior paint
Like most straked boats of that era doesnt ride like a deep V - with that said we had ours on the south side of Block Island number of times.
Beautiful project boat if you have something to start from
Have fun
Henry