Seefest, I have had more than one person tell as you did with the transom and that's the way I was leaning. So that settles that!
I don't know how much putty I used up fairing in that lip. A good deal, I'd imagine, you have to take it a pretty fair way down the hull side to fair it in properly. Yes, that would add some weight. Of course, you're adding a perimeter of wood strip to the inside when going "bulkheadless". Having said all that, I don't doubt that the factory build with the lip and plastic bulkheads is really the lightest of all of them and allow most ballasting in the keel.
But if you're after smooth sides, no doubt going without bulkheads would sure make that easier.
Here in NC, many of the big sportfisher boats are painted in "pastel like" colors. Fairlady Yellow, Carolina Blue and this Seafoam Green. I've always liked the look, makes them look very classic. The green really catches my eye for some reason. Dark green really is my favorite color but I wanted to go with something lighter and brighter.
Thanks for your opinion on the transom......I am going to do it as you say with the transition just a line across the top!