Just got back from sailing Biscayne Bay in Miami aboard a Privilege 39 for the past few days. Enjoyed the boat generally speaking. But personally, I had a few issues with it. The boat had a lot of motion for its size. I thought the layout could have been a little better (although this one, w/4 staterooms / 4 heads had to make the most, and sometimes too much of, the space alotted) and I also found it to be a bit slower than I expected when sailing anywhere from a beam reach to close-hauled. Small tramps too, due to the "nose" that''s so prominent on the Privilege.
Sailed the same waters last summer aboard a Venezia 42, and was quite surprised at the difference. The Venezia had a much better ride, better accomodations, and just a more spacious feel to it.
I will give the privilege this though - the cockpit layout was great. had up to 8 on board and it served us well. Can''t say the Venezia would have done as well there. I guess there are always comprimises!