Darren,
Thank you for your rational thoughts and opinions. It is good to see the background of where you are coming from. I have been directly and indirectly involved in underwater recovery for some time. The reality is, the pendulum swings back and forth, sometimes in radical moves as a result of a certain event.
The swings are detrimental for all involved, and the event can be a many headed beast. Right now, as a result, the regulatory pendulum is swinging far to the right, getting to near shutdown of any recovery. I fear that its not over, from several perspectives.
Environmental rules affect everyone, with near shore and shelf areas getting extreme exposure to regulations right now, and I feel will only get worse. With more discoveries of biologics offshore, and depletion of fish stock, large areas will likely be shut down in the very near future. This is an issue for treasure hunting and archeaology.
Spain is now hypervigilant. Spain currently has its military and several companies mapping the seafloor to the EEZ, and appears ready to enforce its sovereign rights worldwide. Again, this should be of great concern to any recovery operation, past, present and future. We are seeing art and other cultural material being re-patriated at unprecedented rates. The Greeks are seeking the return of the Elgin Marbles, and other artefacts from museums worldwide, and are very successful. It does not matter if we agree of not, that is what is currently happening. That is the foundation of my comment in regards to the recovery activities of the East Coast, Spain may be more than happy to let everyone keep searching, and even recovering, but as we have seen, it may be gratis and on its way back to Spain, which has now been tested all the way to the US Supreme Court.
Some small attempts have been made, albiet very small, but with UNESCO determination of wrecks, at least leaves some recent ones for recovery.
Underwater archeaology, other than shallow diveable depths, just cannot get past many of the issues at this time, and so the gap between standard archaeological practice and treasure hunting will remain far apart until the sides can actually get together and agree on principles.