I hear what you say and don't get me wrong it is not a perfect situation and I agree Caroline appears to set her targets too low on the radio side.
On saying that I am loving the current format with the new music that is being offered and the familiar and not so familiar music that's heard on the Album service, the Flashback service I cannot comment on as I don't listen and the North broadcasts fit in great once a month along with this years specials has been superb.
The ambitious Ross dry docking appeal I believe can only be financed through charity appeal. I don't think anyone can make a commercial success of it. But to get the extra funding and ambitious targets for increased funding you would require a full time sales team and that's when you'll start hearing a compromise on air. Already I see from the contributors who complain about hearing the same annoying ad's, you'll soon see the audience moaning when they start sounding like the Corporate's with win £100,000 by ringing this number etc... the voice tracked no inter action that other stations suffer from.
I know it's never going to be exactly how any of us would like, but it does sound like the familiar Caroline I have always known and radio as a standalone media is I believe impossible to sustain without a Corporate machine behind you, or some sort of subscription based content. Caroline rather like Monitor magazine survives and thrives by those paying if they want and others listening and getting it at a reduced cost, or free.
How long it will last I'm not sure but nothing lasts forever and for me it's great having it around for most of my life and still enjoying what I hear to today despite the huge amount of other choices and distractions we have in this world now. 
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If you look at longevity, PM has now been at the helm for longer than not. In other words, over half the life of Radio Caroline has been stewarded by him. The Lady has achieve more in the PM years than it did previously, except in audience size. It's certainly a darn sight easier to pick it up these days than ever before and offers several diverse streams of programming.
My only gripe is that Caroline is not sufficiently commercial to self-sustain its operations without begging for donations; that's a very precarious position to be in. Many local stations generate more revenue than does Caroline (in fact, my last two pubs each generated over £1m a year). Time marches on and everything costs serious dosh; Caroline sets its targets far too low. Money might not be the Lady's raison d'etre but it is necessary. And it's VITAL when certification is needed. When the Tattershall Castle was surveyed in Hull it cost almost £1m to drag her up there and back.
Should Caroline really be a station whose reputation is simply "the past"?
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