Removing stern boxes/splashwell from 20SF?

[rcoster38]

I'm thinking about cutting out my stern boxes and splashwell and running my new deck all the way to the transom, similar to what billythekid did here: http://www.classicseacraft.com/commu...&postcount=124

I only use the boxes for bilge access and would like the extra space. I'd remove the under deck baitwell and turn it into a bilge access hatch instead. I'll also likely be rebuilding the transom to 27" (my Yamaha 150 w/ 25" transom is on the top holes and cav plate is still a hair low).

Any pros/cons or potential pitfalls I should consider before committing to this?

My concerns are:
Structural- do the boxes/splashwell provide important structure and stiffness?
Safety- no splashwell a bad idea? I run the boat in Long Island Sound and Penobscot Bay, so not an offshore boat
Rigging- can it be done cleanly enough to utilize the new found space?

thanks for any input or ideas. the deck is out and I'm thinking through some ideas while I wait for her to dry out a bit.