Ran in to a similar situation recently where we forgot to run the reefing line and were flogging my code 6 main in about 22-24 truewith the #3 up. We tried to carry it, but it was backwinding and flogging so bad it shook the windex right off the masthead. we ended up dropping the main to get the reef line in and instantly picked up 3/4 of a knot of boatspeed even with the main half down.
Long story short, if you don't have a bunch of of beefcakes on the rail, reef and reef early if you think you might be over powered. The boat sails really well with a reef.
