I have a Cheoy Lee Lion (teak hull) and I've sailed on a glass CL Bermuda 30 and an wood H28. I don't know how the Offshore 31s sail but I think Jeff H is on target and the H28 sails much better than the CL Bermuda 30. I was not impressed with the B30s performance upwind. That said the Bermuda I sailed on had been to Hawaii and back and was (probably still is) a beautiful boat.
but the spruce masts would need some work
I would suggest you to take a very close look at the mast. Cheoy Lee wood masts like to de-laminate, specially if the varnish isn't maintained and the glue is exposed to the elements. I speak form experience on this issue and have seen two CL mast failures, one of them on my boat and one catastrophic failure on a Frisco Flyer. It's not that the masts aren't fixable, but be prepaired for a lot of work if it's de-laminating.