To see the water line problem, look at the image in this thread.
http://www.subsim.com/radioroom/showthread.php?t=111622
Notice you can see the wakes inside the ship.
The water line always stays the same, you just can't see it.
I suspect that's why Sergbuto never released his life boat mod.
When I saw the life boats in SH4, I thought COOL!
Till I looked closer.
The water line problem just blew it for me.
Dont get me wrong.
It's cool they added them, but haveing the source code,
I'd think it wouldn't be that hard to add an if/else line here or there.
Spawning them is a simple task.