dcobbet,
Ah yes the stuff is toxic. I used its 'above the water line' counterpart on the deck of my skiff. On a clear day a couple of years ago it stunk so bad the neighbor came over just to make sure I was OK when he saw me painting. Looking back a resporator would have been nice

but the boat was uncovered and open. I am sanding off bottom paint now on my 20 and there is a barrier coat under the paint (also coming off with sander). I will likely (re) prime the bare bottom with this product so let me know how it works out for ya.
TH