Well, had you followed the guidebooks recommendation to get a guide for your first time down, that would have been a good start. Due to changes in the rapid itself, the first drop at Four Falls is routinely portaged- but simply observing the water dynamic flowing out from under the cliff wall next to the drop should give any boater pause. Also, the flows this past weekend were running at just a little over 600, which is getting to be a beefy level for even experienced Bailey boaters -the AW guide puts that in the "High" category, and big holes appear in places where you can usually coast through without problems.
One of the local known facts about this run is that Bailey gauge is a little lower than what show up at Pine- that gives you a more accurate representation of the water coming through the canyon.
Bad wood placement in the last year has made some of the boogie water a little more treacherous as well. Also, the run has been flowing uncharacteristically at a very high flow for weeks now (800+), so the carnage factor has been higher than normal..hence the pinned boats.
I don't think Max has been called a V- at any level, but I could be wrong. Deer Creek is a clean run at most levels if you know the lines, but feels bigger than it looks even at lower flows.
Now that the level has dropped to 425, get back in there and re-gauge your assessment at a medium flow. Bailey is routinely run by gung-ho intermediate boaters who walk the big three.
BTW- although there's been a few postings recently about hazards and trip reports from Bailey, you can always get a pretty reliable report if you post here ahead of your trip; and either ask if someone will show you the lines, or get a gauge on whether your skills are appropriate to the river. You'll probably get a few assholes responding with snide comments (see above), but you'll also generally get some quality information.