I owned a 29.9 for about 9 years, ( centerboard, Atomic 4, wheel converstion, dinette model),
I would consider it a great coastal cruiser. It was perfect for me, on the east coast of the US with some of the shallow bays and inlets. It was very sturdy and would handle a blow. It took a reef early, but once reefed had a very solid feel.
For extended offshore travel I would think that you'd have to overcome a few factors.
Tankage for both water and fuel was pretty limited ( I don't remember the exact capacities)
The standard electrical system was very basic by todays standards. When I purchased the boat the PO had added things like, auto-pilot, loran, depth, electro-san head..VHF, radio etc, and ran them all directly from the batteries. I had a new electrical panel built and ran all these accesories to the panel.
here's a Jack Horner Review. BoatUS.com: Boat Reviews by Jack Hornor, N.A. - Bristol 29.9
It doesn't really answer your question. I agree with the Stand-up to a blow comment. I also never felt that it was sluggish..I had a very early unreliable, 150 roller furling and took it off the furler and had a sail loft put hanks on, preferring to hank on my sails at the time. More often than not, the 110 was plenty of sail to keep her moving.