Some excellent reading. thanks for the link.
As an owner of a 1978 Catalina 38 I think there are some differences and similarities worth mentioning.
The Catalina 38 was a surprisingly well made and well designed boat as we know from S&S. More displacement than a 34 and that is always better. Hull design is robust.
Rig and hardware have stood up well since this boat was selected for the Congressional Cup races.
Biggest similarity and drawback is the shallow bilge.
Aside from that obvious weakness, the CAT 38 sails well has good stability and handles higher winds and seas than a CAT 34.
Finally, many of the failures were not boat specific, some were. And many of the failures that were not boat specific could have happened to anyone on any size boat. As to the steering failure; that always is a fear and needs to be carefully checked out on any boat.
Would I circumnavigate on my Catalina 38; maybe in three years after I have carefully upgraded her of any known weaknesses. Would I prefer to be in a heavier displacement hull and better built boat....probably yes, but then that is true for many boats who circumnavigate.