Tanzer 22 was our first boat. We bought a cheap one (<$2000) and spent a lot of time and money upgrading it over 5 years, racing locally in PHRF, doing daysails, and a few overnights. It's a great boat to learn to sail and race on, and to learn about boat maintenance. It's really hard to beat the internet owner's group and all of the online resources. As a racer it was fun, and we did really well, but there wasn't a lot of competition in that rating band and we eventually bought a much faster boat. If you know you want to get into racing you might look at what's being raced in your area and take that into consideration. We were the second slowest rated boat in the slowest fleet in the bay. Pursuit races were interesting.
Our boat spent the winter on stands next to a Paceship 23 one year. They are really similar looking boats, and it looks like they have very similar PHRF ratings.