I have no intention of dumping cold water on anything, but I feel obliged to say something to you gentlemen that I wish somebody had said to me before I started my H.M.S. Bounty.
I based that model on the hull from the Revell kit, from which I removed all of the molded detail. (None of it was accurate.) The model took me over two years to finish. When I was done, I wondered why on earth I'd bothered with the Revell hull. I figured that carving a new, properly-shaped hull out of wood would have taken me a week or so longer - and if I'd done that I would have been able to say (to myself, if nobody else) that I'd built the model from scratch.
That ancient Lindberg kit is awful. As several folks have noted, it amounts to little more than a toy. Based on the research you guys have done, it doesn't seem to be a scale model of anything.The projects you're talking about will take months and months - even if you don't work on any other model during that time.
So why bother with it? Lengthening the hull and deck, removing the sheer, replacing virtually all the "detail" parts, rebuilding the superstructure....To me that sounds remarkably like a scratchbuilding exercise.
My guess is that you could make a wood hull, from laminations of basswood or poplar, in a couple of evenings. Allow a couple more evenings to seal and prime the wood. Then you'd be starting with an accurate hull and decks. The time would probably would be cut in half if you made it a waterline model.
I hope nobody who routinely reads this forum thinks I'm a member of the "scratchbuilding is the only legitimate way to do it" brigade. But there comes a point where modifying a manufactured hull is actually more difficult, and more time-consuming, than cutting a new one out of a few pieces of wood. It sounds to me like this kit is firmly in that category.
I sure wish the kit industry would recognize how many wonderful model subjects the world of merchant shipping has to offer. A few good plastic merchantmen have appeared in the past few years, but the selection is still pitiful. Things are a little better on the resin front, but not much.
If I were to build a model of a freighter, I'd pick a generic-looking tramp steamer from the twenties or thirties. And I'd name it the S.S. Inchcliffe Castle. And if you know why - well, whurra, whoosh, and even foosh, you're as much of an Olde Phogey as I am.