Ok, since the distribution of the ships among the Allies seems to be a contentious issue, how plausible would it be if they chose to scrap the fleet (used them as target practice, etc) but salvage the big guns for coastal defense fortifications? Would that be enough to satisfy the French, British, and Italians?
Also, I'm of the opinion that the Japanese wouldn't buy up the fleet. It's a much better investment for them to build brand new vessels in order to stimulate their shipbuilding industry and stay on the cutting edge of developments in naval warfare.
The South American propositions sounds pretty good, though. I don't know if there's any more impetus for Brazil, Chile, and the others to keep up their naval arms race, but if their respective governments had the money to spend, why not?