Jim:
You have ZERO worries about the chain plates on a 2002 IP 350, the design and welding changed in 1997 time frame or thereabout and you have the newer better design that solved the issues. NO WORRIES. I know of now issues with the IP 350 that you need to be worried about. If you like the boat, and if you like the way it sails and if you can afford it, then I say, BUY IT and get out sailing. There is no better life than cruising around and simply living the sailing life. NONE.
Hayden in Hope Town Bahamas with about 6 other IPs