We bought a used reefable sail for our HT a couple years ago. Honestly, the sail was kind of a POS (lots of leech hook... or we couldn't trim it right) and we never tried the reef. I imagine the boat could handle up to 30kn relatively easily with the reef. The problem was what to do with the bottom of the sail (unless you used a roller boom) with the fabric still on. am buying a sewing machine and I think I am going to try to convince the current owner to let me just chop of the bottom so that it is easy to rig with a pig tail to the top of the mast. He has 2 other mains now, so hopefully he will let me do it.
I really want to try the thing and we have talked about it alot, but never really did it.