MVC API controller processing POST request

Do I need to restructure for readability?

 public HttpResponseMessage Post([FromBody]BoatProperties props)
    {
        // model validation
        if(ModelState.IsValid)
        {
            // check if guid is set, else set it; don't set when user is admin
            if(props.Guid == null && !User.IsInRole("Admin"))
            {
                props.Guid = Membership.GetUser().ProviderUserKey as Guid?;
            }

            Boat boat = BoatProvider.GetBoat(props.Guid);

            try
            {
                // can't find existing boat: create new boat
                if (boat == null)
                {
                    boat = new Boat(props);
                    BoatProvider.AddNew(boat);
                }
                // otherwise update existing boat
                else
                {
                    BoatProvider.Update(boat);
                }
            }
            catch(Exception ex)
            {
                // error while updating/adding model
                return Request.CreateErrorResponse(HttpStatusCode.InternalServerError, ex.Message);
            }
            // everything ok!
            return Request.CreateResponse(HttpStatusCode.OK, BoatProvider.GetBoat(props.Guid));
        }
        // validation failed
        return CreateResponse(HttpStatusCode.BadGateway);
    }  

As you can see I'm exiting all those conditions with a return statement. If I restructure my code like this:

if(!ModelState.IsValid)
{
    return CreateResponse(HttpStatusCode.BadGateway);
}
if (props.Guid == null  && !User.IsInRole("Admin"))
{
    props.Guid = guid;
}

I will have less indentations and it may be more readable and all the steps seem more distanced from each other.