I spent 4 hours sanding to the bottom yesterday and got the majority of the existing paint off and established an even roughed up surface. I focused a bit more on the damaged areas and tried to get them down to bare glass.
One thing I noticed during my prolonged time on my back under the boat was that there were quite a few hairline stress cracks all the way around the CB trunk right at the corner of the opening through the hull. I do remember the CB trunk moving side to side a good bit when I had her out sailing last year. At the time I thought it could be normal, but now I am wondering if this could be the cause of the cracks.
I also noticed a good bit of cracking and gelcoat chipping around the front of the CB trunk slot. This looks like it was caused by the CB being dropped and hitting the front of the trunk. My hope is to grind these areas down a bit more and lay fresh glass over them, sand and fair, and then paint with an epoxy barrier coat.