My 32-3 was in more or less that condition, perhaps worse. I put at least 20K in, not counting offshore gear or standard expenses such as bottom paint, doing almost all of the labor myself. (By choice, so I knew how it was done).
You might page through my blog, which gives a pretty candid view of the usual jobs. Start from the last entry and work backwards.
http://www.ericsonyachts.org/infoexchange/entry.php?469-Table-of-Contents-for-Theloni Newer Posts here. Thelonious II--Revised Cabin Table; New Upholstery Thelonious II--One-Piece Hatch Board; more Line Bags Thelonious II--Yacht...
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