The post '84 cockpit (which my boat has) is more cruise friendly with full coamings, but this configuration is less ideal for racing, harder to find and consequently usually more expensive. I have seen an earlier vintage boat with the older cockpit modified with teak coamings (boat name "Good News") that I think Dennis may have sailed at the NA's a few years back in Westport. I cannot vouch for comfort, cost of modification or usability.
As far as PHRF, I think "Chinook" and "Paddy Wagon" (and others) have raced a fair amount in PHRF LIS (and Key West) with some success. The boat tends to suffer most in light air and chop. But don't forget that LIS has a growing one design contingent, where there is no performance differential!
