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Well, actually, it isn't a big formula, and it does deal with basic physics. Isn't that the major complaint? It only considers two basic components, and not other factors like 1,000 lbs 6ft below (or 40 ft above) the hull? Again, the formula addresses the basic stability of a given hull form. What is done afterwards, and how/where the weight is distributed, as well as how these issues improve or detract from the basic design bluewater stability/capability is a wide-open issue. Good designers know how to exploit the strengths and minimize the weaknesses of a given design.
Take the CS 34. By the formula, borderline for bluewater, but a 6ft bulb is probably the best for that design to maximize potential stability, while minimizing a drag penalty. It's a nice boat, no doubt about it. The formula just says it's not the best for, say, Fastnet '79 conditions as far as the boat is concerned. However, in the hands of a good, experienced crew, it'd have a better chance than something with a 1.6 CR and a less capable crew.
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