With due respect to Jeff, you have to realize that he's never given an IOR era boat a fair review. Bear in mind that sail technology in the 1970's was primitive by today's standards, and yes, sailmakers sold rags for every possible wind contingency. It was pretty silly. For your purposes, if you plan to race, you need exactly no more or no less sails than any typical PHRF race boat and less if you're going the non-flying sails route. Talk to local racers and sailmakers and see what they carry or what's commonly used in your area. There are too many old IOR boats sailed (and well sailed at that!) in this area that prove Jeff wrong on a weekly basis.
Priorities are a good main, a good all purpose #1 (150-155'ish... 180's are long dead), a #3 (105'ish), and a .6 or .75 oz 'runner' spinnaker. That's 4 sails. Chances are you already have them. Keep the bottom clean, and don't let Jeff's old posts scare you away.