I think if anyone could actually do an accurate VPP Polar diagram for a high performance beachcat, you would find that we sail at very similar apparent wind angles as monohulls. I think in the medium wind ranges we sail a bit lower True wind angles but again, the same apparent wind angles. This is due to a larger component of our apparent wind coming from our boatspeed. As the wind increases or decreases, I've found that I can point right there with any monohull.

Now, on the Nap - Oxford race, the Melges probably wasn't pointing as high as they could have. As I recall it was upwind, but close to a close reach up the choptank. We didn't get into full upwind mode until the Tred Avon. Either way, they were probably sailing at 45 degrees apparent doing 7.4569 knots and we were sailing at 41 degrees apparent doing 12.3 knots.... perhaps an exagerration, but you get the point. Tad, since you have family in the area, you should come up for this race. It really is a hoot!!
(I can't believe i'm posting on a saturday afternoon and not sailing...)

Cheers,

TB