Eric, I have a 15'' Paratech sea anchor on my 36'' catamaran. I''ve never had to use it,but I suppose I should practice with it. A very good reference on the subject is the book "Drag Device Data Base" by Victor Shane. He has many case histories documented & you may be able to determine what method is best for you.
I believe that it depends on the boat. some boats handle differntly depending on the underbody. I have tried a drogue and did not like it very much with my boat. I have now got a para anchor and have not had occasion to deploy it, but I think that my boat will answer better to it.