To loose... risk demasting.. or damage from rigging slamming around in waves...also less responsive when you NEED to depower (heavy gusts).

Loser rigging (not sloppy) is ok for light air, but the saying is.. the harder she blows... the tighter it goes... this is true with the main sheet and the shrouds.

tighter rigging should allow you to point higher too. Mast rake (and rudders) are a big part of the rigging too... I recommend the book mentioned by tami, and read through old posts... also talk to people with the same boat...