With correct bottom paint (speed rating), the top speed doesn't drop all that much - in our case only 1-2 mph depending on conditions. Etching is also not necessary, sanding is enough. Then apply a primer, then 2-3 layers of bottom paint. This is the minimum! We opted to add osmosis protection: sanding, primer, 3 layers of protection, 2 layers of bottom paint. Re-apply 1-2 layers of bottom paint every 2nd year. For our boat, bottom paint and 10 years of maintenance was less expensive than a lift. I guess there is a turn around point with increasing size, so it is worth calculating your personal situation.
Disadvantage of a lift: you need to put the boat in the water before you can set off...
Stefan
2008 275CCR 496MAG B3
"Arosa"