If you just want to browse the pic's the rebuild album is here:
http://snides.net/images/index.php?/category/8
The back story:

This used to be my brothers boat, a Peter Williams Walkabout from the late 70's. They were manufactured by Peter Williams in Ulladulla on the South Coast. Peter manufactured approx 250 over the years.
He bought it second hand with a 350 chev, 600 Holley and dog clutch, fairly standard setup for a simple ski boat. It was great for skiing, instantly snapped out of the water and had no problems pulling skiers, biscuits, etc.
Top speed was about 60mph where the hull started to walk, I was told this could be corrected during the rebuild but that is fast enough for a family ski boat.
So my brother had it for about a year before it blew a big end bearing at full noise at the end of a big day for a mates bucks party, video here, not a bad watch of you have 20 mins to spare, it's basically just a collection of high speed biscuit crashes.
After that he made a couple of attempts to rebuild it before realising that there is a lot more hard work involved than he cared to commit to, so sold the pile of pieces loosely resembling a boat to me for $1,000.
The Autopsy:

After spending 5 years in the weather I knew it was in rough shape but had no anticipated how bad it really was.
- The Bad
- One of the main stringers was completely rotten front to back
- The other stringer was rotten for last 1 metre
- Both cross members were rotten
- The floatation foam under the drivers seat was water logged and had destroyed the fibreglass floor section for the front section
- The trailer was completely rusted out
- All existing seating and flooring was rotten as it was built from standard ply not marine ply
- vinyl seats were destroyed from environmental exposure
- The Good
- The hull and deck were in surprisingly good shape
- It came with a Volvo Penta AQ225 (This is actually a 305ci chev, marinised and spec'ed at 225 HP) that had been professionally rebuilt and run in with 40 hours in a Volvo 21 foot Cabin Cruiser
- It came with most of the pieces from the old engine such as marine manifolds, dog clutch, etc
- I had quite a few favours up my sleeve with some local boat builders