A clever idea but it won't work for a global flood. Isostatic depression and rebound are very slow processes due to the viscosity of the Lithosphere and Astenosphere and the extent of depression will not be sufficient. The mass of all the water in the oceans is about 1.4x10^18 kg, (based on 1.4x10^9 cubic km of water). The mass of the contential crust is about 1.4*10^22 kg</p>
Ok. How about this. It is a fact that many areas that were pushed down (sunk) by the ice cap are being lifted, or pushed back up by the pressure within the earth. (This is occurring with no associated volcanic activity or earthquakes.) It could well be that the weight of the flood water pushed whole continents down much like the ice cap did. This is turn would have impacted the rising of the seafloor as the oceanic crust would now be much lighter than the combined weight of the continental plates plus the weight of the seawater standing upon them. In this scenario it may even be possible for the floodwater to actually 'stand' over the tallest peak. Also the mountainous areas might actually sink lower just because of their incredible weight. Fill up the valleys with water and you've got some real weight pressing down...........Another thought. We don't know how high the tallest peak was 4500 years ago. Based on it's rate of growth of 3 cm per year Everest would have grown nearly 500 feet since the flood. That's a lot of water that my argument doesn't have to account for.
Answers.com - What is the mass of Earth's crust
so while the additional mass of the water will cause isostatic depression of the crust it will be of neither sufficent magnitude or rate to help you with your global flood model.
As to the changing height of Everest the difference between 29,000 feet and 29,500 feet is not really all that significant to the problem.
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