bigger is better
size matters

I've heard that the formula is all glass but the sunsation has some balsa. Any truth to this? Is it in the stringers or transom?

Formula is all composite except for the transom. Jeff wurl

Had a place near Higgins and boated there almost every weekend with my Powerquest 260 for 5 years . Of course, went to Torch, Indian River too. I now own a 292, and boat on Cumberland, and went bigger for the same reason you are thinking. Just make sure you realize that water sports are not really good behind either boat...too big, planing speed too high.
Last year, I took my 292 to Higgins and it is really big for this lake. I say this simply due to the fact that it is something to think about. On LC, you need to run miles to get to different destinations. With cruising speeds of 50mph, you cross Higgins really fast....other lakes are a different story. Pulling up to the south state park and dropping the anchor is still ok at the drop off, and the extra space is really nice.
There are advantages to the small blocks too. Cheaper to service due to less oil use, can hardly even think of hurting a Bravo drive, lighter etc....all a trade off for torque.
I would go for a newer, lower hour, well documented and surveyed boat.

Great boats I've driven both and recommend either one. Don't let the measurements fool you, the Formula 292 is well known to drive like a much bigger boat.

I have a friend with a MINT 2006 292 fully loaded evey option only 145hrs not yet listed for sale.

Formula. It won't be as fast as the Sunsation. But you pick up 3 inches of beam, and its a heavier boat. The weight makes a difference in the rough stuff.

Sunsations of that era would have wood stringers, transom, and would be balsa-cored.

A good friend I boat with has a 05' 32 Sunny with twin 6.2s - Love the boat and highly recommend them.

Size wise the boat is barely longer than my 283 Checkmate - the added width of the Formula would be nice however I think you will like the "sports car feel" the Sunny gives.

Basically you cant go wrong with either!

I'm a bit biased to Formula :drink:....heavier, more amenities, larger cockpit, entire boat will be bigger inside. Never been on a Sunsation. Very sexy boats for sure.... IMO you will enjoy the Formula more from what it sounds your boating will be. I do not think you will go wrong with either boat honestly. Good luck...look forward to seeing photos of the boat you buy.

Chris