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I'm adding this only because I know a lot of other folks do have the Hobie jib kit for the wave (even with its faults, it can still add to the fun). I have not, however, noticed that it allows pointing higher.

I don't know why you would think that the jib would make it point higher. A jib makes a boat point LOWER than a unirig, if you are trying to go upwind, and I think this is true of any sailboat.

A jib gives the boat more power off the wind -- reaches and downwind -- because of the increased sail area. So you are right that it can add to the fun.