...boat seems to have just vanished without a trace.

Needless to say Bryan... there are many of us wondering what
the heck happened in this particular situation as well

One of the senior Coast Guard officers involved in the SAR ops
has stated he is just as mystified as the rest of us.

Roger Long started a thread in "Rec.Boats.Cruising" titled "Jim
Grey disappearance" that you may find interesting.

Best regards

Bill

Channel Islands Harbor
Oxnard, California