I know how to estimate your glass requirements but it would be immoral
to tell you.

I will repeat: Fiberglass sheathing an older carvel planked hull is a
sure way to a quick death. It should only be done to squeeze an extra
few years out of a hull that is unsalvageable otherwise.

If you want advice from the real experts, sign into the Woodenboat
Magazine repair forum at http://www.woodenboat.com/ and ask. 90% of
those guys restore classic wooden boats. Some have several hulls under
their belts and know what they are doing. You will definitely get some
responses. That question is like waving a red flag at a bull on that forum.

As to the paint: Marine topsides paints should never be applied below
the waterline. A high quality anti-fouling bottom paint is made for
that. There are many on the market with various formulations. Some
work better in warm water and others in cold. It is best to ask around
your marina/boatyard and find out which brand works best in your area.

--
Glenn Ashmore

I'm building a 45' cutter in strip/composite. Watch my progress (or lack
there of) at: http://www.rutuonline.com
Shameless Commercial Division: http://www.spade-anchor-us.com