Like:
1) Layout and it's simplicity. Lots of space for a 40fter'. Pilothouse is awesome and closet space,bathrooms, bedrooms are big.
2) Single diesel. Yes, parts are hard to find, but they are out there. Any good diesel mechanic can work on it and Bedford as an engine is very reliable. Economical to run at 2gph @ 8 knots.
3) Clean and stylish. I get tons of comments on my boat. It's lines are timeless and the "stout' battleship look is impressive.
Dislikes:
1) Just with any boat, the older it is, the more can go wrong. As long as the previous owner took care of the boat (ie. window seals, paint, teak decks, etc) all will be good. The boat has been around for over 40 years, it will last forever if it's taken care of.
2) Small swim step. The first thing I did was replace it with a larger one. My family loves to dive, so this was crucial.
3) Unable to open saloon windows. My windows are fixed panels which will be replaced in the future. Not sure if yours are, but it would be nice to open them.
I can tell you that every boater will have their own opinions on what is good or bad on a boat...these are mine. I LOVE my Bluewater and think its a great boat. Hope this helps!
-Josh