conundrum
Ryan,
This is indeed a perplexing problem. The answer is that common sense and practicality have to win over electrical perfection. One can follow the West Marine advice (if the isolating fittings they describe exist), but the real question is: Can true isolation be achieved practically? When we rebedded Joliba's keel, the experienced yard owner was planning to electrically tie our mast AND OUR ENGINE to the keelbolts to bond the whole boat. I had just read an article similar to the West Marine adviser, warning not to do that. Though the yard boss, Larry, said that most other boats are bonded that way, I decided not to do it. However, I did connect the mast to the keel. As for grounding of DC instruments, I am certain that there must be some stray connection between the mast and some lighting, instrument, radar, or other ground wire, not to mention the VHF coax ground. The practical side is that there will be corrosion and one needs to know where to anticipate it so that it can be monitored in order to refresh contacts or replace vulnerable fittings periodically.
In my experience, lightning protection is a myth. I do not know of any boaters killed by sailboat lightning strikes, though I have seen several boats that were struck and have spoken to many who have had the experience. I have seen lightning strike the water yards away from my boat in open water, and strike nearby boats in an anchorage and marina. Fortunately, I have not been hit. Though tying the mast to the keel is common advice and practice (I have done it) I believe that it is akin to assuming the the "crash position" as we were taught to do in elementary school in case of nuclear attack. The practice of Lake Michigan sailors before 1960 was to drop chains over the side from the shroud chainplates during a thunderstorm. The thinking was that the boat is generally heeled over and the masthead, down the shroud to the water path is more direct for the lightning than down the mast. One might think that a wooden mast, composite mast or even aluminum would be a poor conductor for the lightning...hence the heavy copper conductor tying the mast to the keel. If you have ever watched a tree struck by lightning, even a dried out dead tree, you know that a huge static electrical discharge will not care much about a curving horizontal wire when it only needs to jump a short gap through some humid bilge air to complete a path of least resistance to the water. Boats I have seen struck by lightning were bonded from the mast to the keel or a ground plate. Nonetheless, electronics, even disconnected in the cabin will generally be fried. I have seen a through hull exploded out of a boat cruising in Panama, that survived by plugging and pumping until they could be hauled. Another boat had the entire balsa deck core destroyed. So, I don't have a great answer, but I truly doubt that even the experts have a true solution that works. A Faraday cage around the boat... like a car or an airliner would do it. But we have to do our best to guide the lightning through the vessel or try to keep it away altogether. Good Luck!
Mike Jacker