I've sailed on a Marieholm, it might be too slow for the Chesapeake's (but I don't know that area). But there's no rules against flying some light-weather sails when you're crusing
Other than that it is a very rugged boat that should be as capable as the Contessa. IF's which is another Folkboat inspired boat has also been used as a bluewater boat. The original Folkboat however is not self bailing, and thus not good for bluewater sailing.
Judging from the pics, it seems to have been cared for better than average, so it could be a great deal (pending survey)
IF I were single or a couple wanting to go far on a budget, this would be one of my candidates.