If the Admiral is happy life aboard is usually all good. 4'8" would be a great number for around here as well. The 6' keel on the I36 makes it an impossible choice for our club, even during high water like this year. We do have a channel now thanks to dredging but the mast stepper and lift well have a shale bottom so short of blasting it won't get any deeper.
Unlike the Islander, the IP will not spill the drinks but it sure was a blast to sail. I hope that once I figure out how to drive the IP it will get better, right now the excitement of ownership is not so much.