G'Day Jules,
While Dan Brown, marsch hawk, has good advice, I'd like to offer my opinion too.
While you will have more fun when moving faster on a lower point of sail (not sailing as close to the wind as you might be able to sail), racing would require you to reach an upwind target as quickly as possible. This involves sailing slower and gaining more upwind distance over time.
This is precicely one of the reasons that I choose to sail without competition (a non-racer).
To answer your question I would say that you should continue to learn to point high, into the wind, as long as you want to compete for upwind progress. ... But for out and out, raw, FUN... go for speed on whatever point of sail it takes you to!
On a standard beach cat you will find out that "pinching" upwind will not only gain you the satisfaction of lifting you and your craft upwind, against the wind, but you will find that working your way back down-wind can get awfully boring.
This can be a very important practice on a very windy day! When the weather is really blowing, you have to depower the sails (flatten them!) and stay pretty close the wind. Otherwise you may blow over! In the same (high wind) conditions, you may have to sail down-wind "pretty deep," or "stay away from sailing across the wind" and keep her going deep, downwind, moving the direction of the wind.
In moderate or light conditons you will want to go out and reach close to the wind, while keeping your speed up. You will find yourself in a position to be able to stay quite high on your way back downwind. Both directions will be fast and lots of fun!
I have found that the fastest course is the best course, and that the race course is only sometimes the fastest course.
Keep in mind, when reading my comments, that I don't mind being the only sailor on the only boat on the water. "Your knotage may vary."
GARY
YKMV!