Good post Steve. APS just showed his extreme lack of knowledge when it comes to Thru-Hull exhaust. Many boats come from the factory with thru-hull and have to be "Monkeyed" with to comply with the antiquated, outdated NH law.
APS needs to do some relevant google searching to educate himself on what switchable exhaust is. Actually come to think of it if the boat in question HAD switchable exhaust it quite possibly could have saved the boat from sinking as the captain could have switched it to thru-transom and the water would have stopped coming in through the pipes.
So actually thanks APS for raising the issue and helping to illustrate yet another benefit to switchable exhaust.