Carl Fisher is a member of the Yahoo Group Civil War Naval and Marine Forum and lives in Norfolk, Virginia. He keeps up with all things Elizabeth River.
Since 2003, the Maerk Shipping Company has built a large container terminal on Carney island and dredged most of the offshore area where the Virginia was blown up.
Before doing that, they had to have extensive magnetometer surveys and found no metallic objects of any significance in the area.
Fisher's opinion is that there is little of the Virginia left.
Another posting in the same group from Tom Apple said that the CSS Virginia's remains were raised in May 1876 and floated to dry dock where the machinery was removed and wood broken up. A Norfolk company made 200 canes and other souvenir pieces out of the remains. This according to the Norfolk, Virginia May 30th and May 31st, 1876 papers.
So Much for That Ship. --Old Blockade-Runner