The letters PC stand for a lot of things. Personal computer, politically correct, private corporation. But cobbling the words 'performance' and 'cruiser' together behind the overall length of a boat almost sounds like an oxymoron ' the nautical equivalent of jumbo shrimp or Microsoft Works. It just doesn't sound right. At the dock, you can see how the cruiser half of Formula's 34 PC quotient comes into play. The 34 sits big and squat in the water, with an 11-foot-6-inch beam and an overall length closer to 36 feet than its stated 34, if you factor in the extra foot-plus of the bow platform.

From the water, it clearly has plenty of cockpit space and a huge cabin. First impression: spacious, Eurostyle express that looks sharp with its navy-blue Imron hull and forward-facing radar arch. Worst-case scenario: pretty dockside condo with a sluggish, bumpy ride.

But when you get the big blue 34 cranking in Greenwich Bay at speeds approaching 50 mph in a chop, the 'P' in PC suddenly has some real substance. And that gets underlined every time you zoom past a sailboat like it's standing still, or give another express cruiser a moon shot of the transom. After a half-hour of running around the busy bay, you realize that this 34 PC, with its ability to hit 30 mph in less than eight seconds, has a hull that'll run with the big dogs ' and in water that would force most expresses back to displacement speed. It's a tiger in a class known for its pussycats. In other words, it puts the 'P' in PC.

Oversized is really the word you keep coming back to on this boat, and everything about it seems much larger than a typical 34-foot express. Count the dozen drinkholders in the cockpit, or look at the 13-inch-wide steps up to the windshield walkthrough, or even count standard features like a central vacuum system below decks, and you get the idea that size matters on this boat.

Mark Ashley of Total Marine in Warwick, Rhode Island, is the host for the day, and neither of you want to waste any time weaving through a sailboat regatta, so you point the 34 out of Greenwich Bay and take off.

The open waters and channel islands of Narragansett Bay are beckoning, and the boat traffic's much sparser out there. It's one of those Seinfeld tests where nothing really happens, except for a fun three-hour cruise. But, hey, it's a gorgeous summer day, cool and sunny, and there's enough of a chop in the bay to give you an idea how well the boat handles.

The 34's a treat to drive. Visibility from the helm is excellent, and the Gaffrig gauges and Raymarine electronics are laid out for easy viewing. The helm seat also folds up for tight docking situations. Powered by twin 375-hp 496 MAG MerCruisers with Bravo III drives, the 34 PC hops on plane in seconds (with no space shots of the horizon) and reaches 30 mph in 7.9 seconds. Not bad for a 14,000-pound boat. Top end is a very respectable 49.5 mph.

With the isinglass and canvas up, it almost feels like you're steering through a video game as you weave in and out of the island channels. The deep-V hull (18 degrees of deadrise at the transom) delivers a silky-smooth ride through the 2-foot chop, and turns sharply whenever crab pots creep up. The friendly cruise of 35.1 mph at 3500 rpm gives the boat a range of 209 miles.

The 34 PC also comes with seven other engine packages, all twins, from 300-hp MerCruiser 350 MAG MPIs with Bravo III drives (top end 35 to 37 mph) up to the 375-hp, 8.1L Volvo Gis, comparable to 496 Mercs with a top end of 48 mph. The 350s do the job, but who wants to be limited to 37 mph? The 496s feel right for this boat.

After driving like a speed demon, you throttle back to 3500 rpm and settle into the scenic cruise ' around uninhabited Patience Island, a nature sanctuary, and then through the channel that's between it and Prudence, where boats are anchored and fishing for striped bass. Egrets and blue herons are wading near the deserted shoreline, and off Hope Island, a handful of clammers are dragging 30-foot rakes from their tiny boats for Rhode Island gold ' fat quahogs and steamers. The cool, sunny day is drawing out every kind of boat, including 16-foot bowriders that really shouldn't be on the bay.

But this 34-foot cruiser is right at home, since it gives you a place to sleep (in comfort) if you want to go on the hook for the night at one of the islands, or head the 15 miles offshore to Block Island. The hull is protected against sudden turns in the weather, as so often happens in New England. It's a decent-sized boat for any coastal water, and has enough heft to punch through waves.

You drive for an hour, getting a good sense of the boat, then let Mark take over. The cockpit is surprisingly large for a 34-, er, make that near-36-footer. The 18-inch-by-43-inch companion-side lounge sits two comfortably, and a U-shaped lounge abaft the helm (with three lengths of 42-, 60- and 70 inches) is able to accommodate another four or five people. It also turns into a sunpad with filler cushions.

Visibility of the water in the lower cockpit is restricted to the sides (and the back of the driver's head!), but that's one of the givens on an express cruiser with a mid-cabin. But it's a social cockpit, with room to spread out. There's a refreshment center that has an optional fridge. The swim platform measures about 30 inches by 120 inches, and has a hot/cold shower, and a 28-inch-by-50-inch compartment for stowing fenders, line and the cockpit tables.

The cabin also seems over-spacious, with 6 feet 8 inches of headroom and an open-plan layout that adds to the sense of space. You have to remind yourself that this is a 34-footer, not a 36- or even a 38-. The off-white carpeting, high-gloss cherrywood cabinets and white lounge add to the open, airy feel ' as do three overhead hatches. But it is big down here. Even the head has 79 inches of headroom.

Granted, you give up privacy by not having bulkheads between rooms (especially if you're entertaining guests), but the sense of space from this open layout is worth the tradeoff, and it would work well for a couple or small family. (If you really want privacy, just pull the privacy curtains and turn up the Kenwood stereo with digital Sirius satellite radio, or pump up the volume on the flat-screen television with DVD.)

You don't get a cramped feeling in this cabin; you could stay down there for hours, especially with
the 16,000-btu air-conditioning cranked high. The galley has all the comforts of home, with a Corian counter, Isotherm fridge, Samsung microwave, two-burner electric stove and stainless-steel sink. There's plenty of storage space behind the cherry panels (which also hide the fridge), and the 20-inch flat-screen television angles out of the wall and tilts sideways so you can watch it from the front berth. Fit and finish in the paneling get high marks, though the slightly cheesy swirl pattern in the cabin carpet has a 'That '70s Show' feel.

Formula has always been a practical builder, and the layout in the 34 shows that. Beneath the hatch at the foot of the forward berth is the optional Lewmar bowthruster ' instant access for a mechanic. Ditto the hatch behind it for the air-conditioner. You've seen AC units hidden under berths, and even steps, that have to be ripped out for repairs. So this gets extra points. The designers even added in-floor lockers, with mesh bottoms and drains. Again, most builders wouldn't bother with details like this.

Storage is another of the cabin's strong suits, with matching cedar-lined hanging lockers (39 inches high) on either side of the queen-sized V-berth, storage under the berth itself, and cabinets on the bulkheads. (The cabin table fits neatly in a special space under the innerspring mattress to keep it out of the way.) The three-piece Ultraleather lounge measures 88 inches by 21 inches, and, with filler cushions, it turns into a berth (for a very close couple or kids). The aft-cabin berth is 58 inches by 72 inches (better for two adults). Another nice touch at the back: an aft porthole that provides good ventilation.

As mentioned, the head has excellent headroom, and a bare-bones fiberglass finish for easy maintenance. It also has a matching Corian countertop, porcelain Vacu-flush toilet with macerator (the holding tank has a 40-gallon capacity), and shower. The toilet is at a 45-degree angle to the wall to prevent knee-knocking. The only item that seems over-engineered is the plastic divider between the shower and sink, which inhibits movement. A simple shower curtain would work better.

Otherwise, the cabin's a refuge and not a cave ' a place you could happily stay for hours at a time. Of course, on stunning summer days like this, the only place to be is the cockpit, preferably behind the wheel. So, you relieve Mark and enjoy the rest of the trip past Quonset Point and back into Greenwich Bay. The three hours go fast, partly because there's nothing, absolutely nothing, better than a Saturday morning boat ride ' especially on board a boat like this ' even if nothing eventful happens.

Much of the reason for the easygoing ride is the way Formula builds its cruisers. The details may be eye-glazing for non-engineers, but they are vital to the boat's structural integrity. The components include a suspended stringer system that gives the boat a more solid foundation, Plexus-bonded hull and deck (also joined with stainless-steel bolts with aluminum backing plates) for minimal flex in rough water, and top materials like AME 5000 resin (provides the best gelcoat protection), 316L stainless-steel rails (highest marine grade), 10.5-inch stainless cleats with stainless backing plates and lock nuts, and crimped, insulated wire connections to prevent corrosion and electrical shorts. There's no wood in the cockpit furniture, and the vinyl has a special finish to look new under the sun.

But the top-notch features and functionality of the 34 really shine in the engine room, which is the most organized you've seen on a boat this size. Two hatches ' a 21-inch-by-23-inch day hatch and a larger electrically controlled hatch for bigger repairs ' deliver access to the engine compartment. Through the day hatch, a step drops down over the 7.3-kW Kohler gas generator, and lifts up when you need to get to the genset. The oil and other fills are within easy reach; everything is accessible, including the bank of deep-cycle batteries and Charles Industries' battery chargers.

Buyers will probably experience sticker shock when they first see the base price of more than $250,000, with another $30,000 in options to make it a true performance cruiser. (The 496s are recommended). Two thoughts about this: Only a handful of other builders offer this level of quality and design, and the resale values of Formulas have a proven track record. But if that's not enough, take a test drive, and watch this luxury cruiser pass everything else on the water. You'll understand why 'PC' doesn't stand for pussycat.