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I wonder if that's like the old Cal 40's, where some hulls apparently were sold for home-finishing and some owners decided to deck-step the mast? (I saw one, otherwise I wouldn't have believed it.)
In theory if the rig is right anything is right but the general "gut feeling" among sailors seems to be that if the stick goes to the keel, it is simply more robust. Doesn't mean that's right or wrong--just what most folks feel about it.
I'd definitely say to pay attention to the rigging, if it is still original it is time for re-rigging in any case. And maintaining it correctly.