I currently race a Morgan 27 in Galveston Bay and have some very good results. In 20-25 knots we do even better.
With a little tender care and new sales the boat goes to weather in 12-18 knots as well as any boat in the fleet. I think that you were a little premature in writting the boat off. A month ago we raced against a 28 boast fleet and with 109's, 105's, J-80's and J-24's the winning boat in the spin class was a J-24. Over a 22 mile course and her giving me 24 seconds a mile we finished 10 seconds behind them on elapsed time. You do the math.