Hi SS, yes i have a 30' lobsterboat, i rent the dive gear, but i haven't been diving in a few years, (we trap our lobsters we do not dive for them), i'd say a max safe dive depth would be about 90' although i always limited myself to 60', i have a Fisher pulse 10 boat towed metal detector w/ 150' cord, i also have a drop camera w/100' cord, we could possibly make a few sweeps but the area's around the isle of shoals are plastered with lobster gear during the summer months, of course thats best time to dive, due mostly to water temp. but i have seen some amazing 60'+ visabilty during the winter months.
unfortunately i don't think there would be anyway to legally salvage the wreck, but we won't let that stop us

, as there is always a loophole in the laws

, and there are even many ways of making money from shipwrecks without salvaging them.
also i have heard fishermens tales of a british pay ship of sorts (Bribe money) sinking in the area, but i find it kind of hard to beleive as i have never seen any published accounts of it and i think if it were true, there would be many people around here looking for it, is that the ship that you have info on ?
but i do have to agree with Robert about doing the shoreside research first, we don't want to be chasing ghosts. and as far as an ROV goes, i think it was robert who had some some excellent info on this forum about building one without breaking the bank doing so.
Pat.