The Toyota Prius is not designed for towing a load. The owner's manual does not recommend using the vehicle for towing. (Doing so may invalidate your warranty.)
That's not to say that some owners do not do this, for light loads and/or for short trips. You just have to take it carefully, and monitor fluid temps.
What's the tongue weight, and what is the weight of the trailer/boat combination that you'll be towing?
As for traction, that'll partially depend on what tires you have on your Prius...
You might be better off looking for a rental vehicle that can tow, or buying a buddy a beer/dinner to do the tow for you.
You might want to ask some Prius owners who have towed a trailer, rather than the assorted people here:
http://autos.groups.yahoo.com/group/priustrailers/