The mid engine aluminum boat in the YouTube vid above is a great example of what can be accomplished with the judicious application of time, skill, vision and cash. Props to the gentlemen who brought this project to life.
If you watch the posters other videos, that film the wake, it appears that this boat built to be a wake board boat, would likely make a better slalom boat...Hmmmm.
Some manufacturers produce pretty decent looking (although jet boats not direct drives) aluminum rides.
http://www.edgemarine.com/VelocityLS.htm
Just shows that it's possible to make a good looking aluminum boat.