Re: boat rot...wet foam prevention.
The hull displaces water because there is air in the hull. If fibreglass is more dense than water, which I think it is, it will sink. Fill a fibreglass boat up with water and I am sure it will sink.
As far as floatation foam, there is no water vapor within the foam, unless of course it gets wet and saturated. My guess is that the bubbles within the foam are formed by a chemical reaction that happens when the two parts are mixed together. They do not contain air, most likely CO2, so that is not a source of moisture.
If you were to use an air bladder such as an inertube, if you have a hull failure and water ingress, the water pressure would tend to compress the bladder, and it would therefore displace less water. Also a bladder would leak, they all do over time, same idea as a tire, it will lose air eventually. That is why people are experimenting with Nitrogen for inflating tires. Larger molecule, won't leak down as fast.
While foam has its problems, I did and still would use it in my boat. Just seal everything properly, even the stringer/floor joint. I used 5200 to do that. Or the other option is you can always look at ways to drain the water if it gets into the foam. There are benefits to using it, and in my mind the benefits outweigh the problems.
Oops if I see ping pong balls or innertubes floating around Okanagan lake this summer, I'll come looking for you.
Have a great day,
Rob.