Shipwreck hunters make rare find in Lake Ontario: Plane that went down in '53

I first saw this article in a maritime industry news website. Since I knew my Uncle Charles had flown B-17's in WWII and retired as a USAF Colonel, I asked the family network of cousins if they had any more information. One cousin replied that Uncle Charles had related this story to him when my cousin was learning to fly in the 80's. Uncle Charles was trying to impress on this student pilot that sometimes you have to make quick decisions based on the information at hand - no matter how unpopular that decision may be. Did Uncle Charles make the best decision? You bet he did! And I'll wager that the other 4 people in the plane thought so too. The amazing thing to me is that this transport plane actually had parachutes on board - probably in lieu of air masks that drop down from the overhead and seat cushions that can be used as flotation devices in the event of a water landing (which I wouldn't call a "landing").
Is it possible that the plane might have been saved had only 4 people bailed out? Maybe only 1? or 2? or 3? Not trying to be a Hollywood hero, the pilot made a quick decision that enabled everyone to walk away. Decisions don't come any better!

From the description that after the crew bailed out it flew on for 65 miles on one engine, seems like they made the wrong decision instead they should have stayed on. Are they still alive, it would be interesting to hear from them about this.

Great News.. I hope it can be recovered with Minimal Damage...