I have started my 1:450 Revell Victory
The hull parts come in top and bottom as well as left or right. This would eliminate having to mask to get different colors at waterline. But, the panel lines on the lower half are not that great! The lines are engraved way too deep to represent copper plate lines, are too regular, and absurd shape on stem and sternposts. The molding on the top half, however, is quite nice, crisp and sharp. Good detail.
I have never built a waterline model of a sailing ship, however, but I guess it is time to do one. I intend to build it without sails bent, anchored.