Thanks guys. You've made my day. Celtic Lady was raced in 3 Chicago-Mac races. I'm guessing that the owner, or one of the other 2 previous owners installed that pin, which from an engineering standpoint, just doesn't work. And its probably why I've gone thru 3 pins in 15 years of owning Celtic Lady.
I always cleat off the pennant anyway when the board is down and I mark the pennant at the point when I know the board is lowered to the "perfect" spot. So thanks again, your confirmations have not only saved a lot of stress, but saved me some bucks.
NOTE: On a different note, I was surfing the web on T37 centerboards to see if I could find anything on this and came across an article that said that a T37 will back up better (control/steerage) when the board is lowered. When I was backing out of the slip the other day, I noticed that the boat was steering great in reverse and wondered why. When I got to the slip (from the lift) I realized my board was still down... .so I think I am believing that she backs up better with the board down.
Thanks again.
Mark