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Best solution is to have a loft put in a vinyl window. While you are on the stern, use a laser pointer (or good signals) to tell a foredeck person where the window should be, and mark it off with tape. Make sure that's what you want, think it over before you have it cut!
Cutting the foot of the sail higher could take away significant power. Installing a camera on the bow deck would be unyachtsmansly.
Moving around, high side to low side, might be worth trying. A lot of racers won't install a window and wind up having the genoa crew duck down to peer under from time to time. But all in all? A PROPERLY placed window works for me. And, as Jim notes, swinging the bow a bit for the occassional paranoia check works too.