Uh-OH...I thoughd I saw a puddy TaT!
Paint problem equeals dozens of explanations, hundreds of opinions and it never fails, a discussion takes place!
Barnsnake: GR is gonna owe me on this one. The blistering you describe is pretty much in GR's corner. To much catalyst, once again moisture, etc., etc. Blistering WAS pretty much of an industry wide problem , espesicaly in the '50's-late 70's. I think they have pretty much solved the blistering with new formulations, chemicals and procedures. EggHarbor to Bayliner all had their problems at one time or the other. Above, way above the water line and below!
Bill, good point. We've fixed many snakes with overheated breath, but that particular problem will normally bust a bubble of paint loose from the primer about the size of a pencil eraser, with some actually going right to the glass.
Heck, it could be none of the above!
Tim, what do you mean, planning on coming to the Fling, weather permitting? You have got to get registered, then get the car here! "We'll" do the inspection right here. Heck, we might even fix it for ya at the same time

Besides SPF will be present if you can't get it to Ross.
Blisters, Pinholes, Bubbles? Location...exactly?
DV... The Dr. with the winning diagnosis will get a prize! Of course he will have to be present at Da Fling!