Heh... tried this little maneuver in my Bucc18 today, jibing in ~15 mph winds. The plan was to take the boat from one deep reach to the other, then head up onto a controlled beam reach. Put centerboard up halfway or more, sheeted in to center, had crew blow the jib, tried to time the following wave, reeled out main as fast as possible....
Rounded up and rolled the boat. How we didn't end up in the drink, dunno. Crew had some trouble trimming, and I did a poor job steering with my knees. But basically, the boat just wanted to bite hard & turn abeam.
After-Incident Assessment: 1) Half centerboard is too much. Put it 80% up so the boat doesn't round up so hard. 2) The apparent wind thing: we were reaching very fast, and my decision to jibe was made on a false sense of the actual wind. As we came out of DDW, the wind overcame the boat. 3) Gotta try this again. Get the main sheeted out faster. Countersteer to prevent rounding up?
OTOH, the Bucc sails like a Caddy with 500 lbs of water in the cockpit.
Smooth and level, fabulous wake. And it's still bloody fast -- 7 knots with the bailers sucking hard. I need a real boat, with some ballast darn it.