First off, based on what I have read, there is no such thing as absolute protection against a lightning strike - other than, as I have been taught, if you are within the perimeter of the stays, you personally are protected because the stays form a "Faraday cage".

You are on point that the wire to the inlet valve is too small, and the inlet valve itself is too small to take a major hit - but it is effective in all but the worst situations. What some people do is to hang battery cables from the stays when entering a lightning storm. What the experts say you need is a copper plate on the bottom bonded to the stays and the electrical system. I have a 6"X18" plate which is about half the size it is supposed to be for fresh water (but sized right for salt water). I am the only person I know that has gone to this extreme. Others, however, have the Guest sintered bronze shoes that are not advertised as being for lightning ground, but appear to be effective. I also carry one of those Forespar metal brushes on my masthead.

The book about lightning that I considered to be the best I have yet come across to take the "I don't know how it works but maybe ..." out of the witchcraft concept is

Lightning and Boats, a Manual of Safety and Prevention, by Michael V. Huck, Jr. It is published by Seaworthy Productions, 17125C West Bluemound Rd., Suite 200, Brookfield, Wisconsin, 53008. The ISBN is 0-0639566-0-4

The sailnet URL that discusses this topic, (with a forthcoming issue specifically about lightning) is http://www.sailnet.com/view.cfm?page=9067

Do you have the URL for the Kittiwake story?