I hear disparaging stuff about encapsulated keels but all the
accidents seem to happen to external keels. My 8.5 M S2 has an
internal lead keel so I never have given any thought to keel bolts and
such. Keel bolts on an older boat would scare me silly. I'd probably
rather sail a multihull on a long trip than an external keel boat.
I sail in the seriously shallow NE Gulf of Mexico and run aground
regularly. If I had an external keel, this would be a serious issue.