I went out to visit Argo III on the weekend. Argo is a Dragon class sailing yacht ("the sailing man's Bugatti"), built in the fifties. I commissioned her restoration five years ago, and it looks like it will finally make it out of the shop and on to the lake this season. There are some pictures of her here.
She is quite a well known boat in Canadian yachting circles, having won the '72 Olympic trails. Somebody had dropped off a print of her sailing off Picton some 35 odd years ago. It looks remarkably modern. Back then, she was painted all over. I prefer the varnish look myself.