There's no denying that the M26M and such are finding/filling a market niche. The promise of sailability and high speed powering is tantalizing to be sure. This boat has gotten a lot of people out on the water and that's a good thing... Capt K is a good example of a happy owner.
But if you're interested in SAILING then I'd be looking for a SAILBOAT, not a do-everything-hybrid. As for the price point argument, I can only buy into that if one is buying new. Consider picking up a good T-bird, or a Ranger 26, C&C 25 etc etc for less than $10k, you're barely over the price of a 50 hp motor alone for the Macgregor. There may be a little less room below, but the cockpit arrangement and sailing habits will far out weigh that.
If trailerablilty is a requirement there are other, better sailing less expensive options too on the used boat market.
For the record I have sailed the Macgregor 26M in what should have been ideal conditions, good breeze and flat water. Lets just say I was not converted.....
".. there is much you could do at sea with common sense.. and very little you could do without it.."
Capt G E Ericson (from "The Cruel Sea" by Nicholas Monsarrat)
1984 Fast/Nicholson 345 "FastForward"