Peel it...
I had my hull peeled, not only to remove all the bottom paint, but also to remove the gel coat due to blisters. The PO had done a barrier job, but applied the barrier paint to a blistered hull without repairing the blisters first, thereby trapping the moisture in the hull and exacerbating the problem instead of fixing it. The yard did an excellent job peeling, and just barely grazed into the 1st layer of mat. Total job cost me $800. I did all the sanding after that (to smooth down the ridges left by the peeler) with 40grit paper, which took all of a day. Now it's just grinding out the areas where blisters prevailed, and washing it down and scrubbing it periodically with a heavy bristle brush, and letting time do it's work to dry it out. There will be some minor fairing to do (yard says it's overkill, but I want a fair hull). I won't go nuts, but think with a little effort here, the results in speed and performance will be appreciated. Peel job was in December, and I expect to be applying the barrier in April.
BTW, when I removed some fittings below the waterline, the hull thickness was impressive! I should have taken my calipers and measured, but I would have to guess it was about 1/2". Very well made boats, IMHO!