I am puzzled by the suggestions that jkimberly had "right of way", i.e. was stand on-vessel.
Originally Posted by jkimberly
The respective courses were such that if he continued at present course and speed, he would intersect us at the bows or just miss us forward.
I was in a quandry because as the overtaken boat, we were stand on, we were in a channel and therefore constrained by draft but we were under power.
That is a converging course situation, not "overtaken boat." In an overtaking scenario, the faster vessel clear astern will collide with the overtaken vessel at the stern if corrective action is not taken. In that scenario, the slower, overtaken vessel holds its course while the faster vessel steers around it.
In this case, jkimberly was under power in a converging course situation with a vessel under sail. The fact that the Laser's faster speed and the converging course would eventually permit the Laser to cross ahead of jkimberly does not make jkimberly an overtaken vessel. Both boats were arguably constrained by draft, but in any case nothing about jkimberly's draft prevented him from giving way by slowing down.